defined benefit

The government cannot "stand idly by" while accountancy standards send pension fund liabilities rocketing and undermine the economy, Steve Webb has said.

A quarter of GP surgeries operated a reduced service yesterday as doctors took part in industrial action, the Department of Health said.

The ASLEF union has called off two days of strike action as it approaches an agreement with East Midlands Trains over changes to the firm's scheme.

The government should move public sector pensions to a funded model to create a £30bn a year ‘sovereign wealth fund' to invest in long-term projects, argues a Conservative backbencher.

The Financial Services Authority has reduced the deficit in its defined benefit pension scheme by £7.4m in the past year.

Schemes could find themselves "frozen out" of the Pension Protection Fund if their sponsoring employer is based overseas and fails certain tests, a lawyer warns.

Royal Bank of Scotland has told staff members they will have to work longer and contribute 5% of salary to their defined benefit scheme.

The Rail, Maritime and Transport union has called off a ballot for industrial action in protest against reform to the East Midlands Trains pension scheme.

The Rail Maritime and Train union will ballot its members for industrial action over the continuing dispute concerning the East Midlands Trains section of the Railways Pension Scheme.

A High Court decision handed down on Monday may have set a precedent on the treatment of early retirement benefits when companies sell part of their businesses.