Future accrual
Plumbing scheme extends ban on employers leaving
A ban on employers leaving an industry-wide plumbing pension scheme has been extended for six months in a bid to protect the covenant.
Plumbing scheme launches consultation on closing to future accrual
The trustee board of the Plumbing and Mechanical Services (UK) Industry Pension Scheme has launched a consultation with sponsoring employers on closing the scheme to future accrual.
BT closes DB scheme to managers; union secures improved deal
The BT Pension Scheme (BTPS) will close to future accrual for managers in May 2018, and will them into the telecoms giant's defined contribution (DC) scheme.
Are UUK reform proposals for USS workable?
Michael Klimes asks if the proposal to close USS to future accrual is realistic
UUK proposes axing future accrual in USS
Universities UK (UUK) has proposed ending future accrual of defined benefit (DB) promises and transferring members to the existing defined contribution (DC) plan.
BT mulls DB closure after deficit hits £8.6bn
BT may close its defined benefit (DB) scheme to future accrual in a bid to stem its ballooning deficit, according to reports.
Tata Steel 'offers' £520m payment for British Steel scheme
Tata Steel has reportedly offered a one-off £520m payment into the British Steel Pension Scheme (BSPS) in an attempt to cut ties with the fund.
Ibstock confirms DB closure
Ibstock will close its defined benefit (DB) scheme to future accrual from the end of the month, it has announced.
M&S faces £127m 'sting in the tail' charge following DB closure
Marks and Spencer's (M&S) decision to close its defined benefit (DB) scheme to future accrual from April 2017 has resulted in a £127m charge.
Post Office steams ahead with DB closure for spring 2017
The Post Office has moved a step closer to shutting its defined benefit (DB) scheme to future accrual in March 2017.
AWE workers to be balloted over 'insulting' DB closure plans
Prospect is set to ballot workers at Atomic Weapons Establishment (AWE) for strike action over the company's plans to close its defined benefit (DB) scheme.
Unions condemn planned closure of ITV's DB scheme
Unions have blasted ITV for putting members' retirement plans "in jeopardy" by planning to close its defined benefit (DB) scheme to future accrual.
Post Office workers to strike over DB closure plans
Post Office employees are set to strike next week over the planned closure of its defined benefit (DB) scheme and branches.
M&S confirms DB will close to future accrual
Marks and Spencer (M&S) has confirmed it will close its defined benefit (DB) scheme to future accrual in April 2017, following a three month consultation.
Ibstock plans to close DB scheme
Brick maker Ibstock is consulting on closing its defined benefit (DB) scheme to future accrual, potentially affecting 40% of the company's UK staff.
Have deferred members been priced out of bulk annuities?
Deferred members dominate the DB universe but the high cost of insuring them makes bulk annuities out of reach for many schemes, even more so since the introduction of Solvency II. Kristian Brunt-Seymour explores what schemes can do.
DB contributions at highest level in any year since 2009
Sponsor contribution levels for the FTSE 100 defined benefit (DB) schemes are the highest since 2009 according to an LCP survey.
Royal Mail plans to close DB to future accrual
Royal Mail's defined benefit (DB) scheme could be closed to future accrual after its contributions are set to more than double from 2018.
Amec Foster Wheeler shuts DB schemes; merges into DC
Amec Foster Wheeler has merged its two main defined benefit (DB) schemes into a defined contribution (DC) arrangement after closing the biggest fund to future accrual.
BBA Aviation closes DB scheme to future accrual
BBA Aviation has revealed it has closed its UK defined benefit (DB) scheme to future accrual, following a consultation with members.
Post Office faces strikes over plans to close DB scheme
The Post Office is facing strike action over plans to close its defined benefit (DB) plan to future accrual.
What were the top five pension stories this week?
The top stories this week were a decision from the Ombudsman, trustees at BHS and M&S announcing proposals to close its DB scheme to future accrual
M&S reveals plans to close DB to future accrual
Marks and Spencer (M&S) has announced proposals to close its UK defined benefit (DB) scheme to future accrual as it sets out a turnaround plan for the business.
Employer Covenant Working Group launches and issues first guidance
The Employer Covenant Working Group (ECWG) has announced its formal launch as it publishes a guide for advisers, trustees and sponsors of defined benefit (DB) schemes.
