defined contribution

Telecoms group Everything Everywhere has seen its defined benefit scheme deficit rise by 48% over 2012 as liabilities increased by £60m, according to its results.

The annuity market will come under investigation by the Financial Services Authority later today when a major review is announced.

State Street Global Advisors has unveiled fresh details of its drive to increase its share of the UK defined contribution market, including a move towards direct transactions with employers and trustees.

Legal & General has launched the Master trust Employer Group for schemes in master trust arrangements.

The Pensions Trust has announced its new defined contribution offering, SmarterPensions, will be subject to a 0.45% annual management charge for the majority of its fund.

WH Smith will use Ceridian UK for its auto-enrolment payroll solution for its 16,000 employees.

The industry has welcomed an Office of Fair Trading probe into defined contribution schemes' value for money as the charges debate rolls on.

The Pensions Regulator has rejected criticism of the scope of its defined contribution code of practice.

Industry figures have cautiously welcomed the publication of new guidance for trust-based defined contribution schemes from The Pensions Regulator, but expressed disappointment that it does not focus on contract-based schemes.