defined benefit

Food giant Unilever has been labelled a "modern day Scrooge" after it withdrew the offer of a £15 Sainsbury's Christmas voucher for workers protesting changes to their pensions.

The Pensions Regulator's former chairman David Norgrove has launched an insurance company that aims to cut the cost of buyouts by encouraging sponsors to take an equity investment in the initiative.

Consultants have raised questions about pension liability calculations, after bond market jitters drove liabilities to historic highs.

The Pensions Regulator is in talks with the trustee and sponsor of the Dawson International pension schemes to find a way to plug its £50m deficit.

Defined benefit schemes saw their deficits drop last month after the stock market rallied in October, according to the Pension Protection Fund 7800 Index.

Alliance Boots is leaving itself open to mis-selling claims from its thousands of pensioners after it offered to change the way their plans are paid, its former finance chief said yesterday.

Defined benefit schemes plunged £80bn further into deficit in September leaving more than 80% now with a funding void, according to the Pension Protection Fund.

Less than half of the industry thinks occupational pensions are seen by staff as their most important benefit, PP research reveals.

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Sponsors should treat pension schemes as a subsidiary of their business to tackle the mounting burden of closed defined benefit schemes, a report argues.