defined benefit

The Rail, Maritime and Transport union has launched a campaign against construction firm Balfour Beatty after it proposed to close its defined benefit scheme to future accrual.

Schemes should design auto-enrolment procedures with a longer term focus than the staging date, Tesco corporate pension manager Karen Wake says.

The reduction in defined benefit schemes has resulted in an overall lower pensions coverage, research from Office for National Statistics shows.

BAE Systems has agreed a £3.2bn longevity swap to cover 31,000 pensioners, in the UK's largest pensions insurance transaction.

The Marriage (Same Sex Couples) Bill will not require schemes to provide same-sex spouses with the same survivor benefits as heterosexual married couples.

Premier has launched a fixed-fee service for charities, as not-for-profit organisations struggle to fund ballooning pension deficits.

Public sector pensions will cost taxpayers an additional £9bn a year due to a ‘toxic' combination of the Public Service Pensions Bill and state pension reform, a Centre for Policy Studies paper shows.

The closure of defined benefit schemes hit its fastest rate ever during 2012, with the proportion of open schemes falling from 19% in 2011 to 13% by the end of last year, National Association of Pension Funds figures show.

Capita is recommending that all employers with dependents pensions should abandon them if possible.

The government will publish a call for evidence on two major changes to the way the way defined benefit deficits recovery plans are regulated tomorrow (Friday 25 January).