Melrose Industries has separated one of GKN's two defined benefit (DB) schemes into four sections allocated to the aerospace and automotive segments of the business, according to its half year results.
Turnaround company Melrose Industries is seeking to insure the benefits of one of the GKN pension schemes it took on when acquiring the aerospace business earlier this year, according to reports.
This week's top stories included The Pensions Regulator writing to 14 pension schemes, questioning the values they were giving to members seeking to transfer out.
Melrose Industries has postponed the sale of one of its American subsidiaries from which some proceeds were earmarked for the GKN pension schemes.
The Pensions Regulator (TPR) has revealed it had nine meetings with the pension fund trustees of GKN from April 2016 to March 2018.
Melrose Industries' £8.4bn offer has been accepted in today's shareholder vote, which will include injecting up to £1bn cash contributions for its two defined benefit (DB) schemes.
The government has pressed Melrose to make a series of binding commitments, including for pensions, over its hostile £8.4bn final takeover bid for GKN.
This week's top stories included coverage of the much-anticipated defined benefit (DB) white paper and the sector's reaction.
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
GKN has slammed Melrose for making 'misleading' comments relating to the engineering giant's two UK defined benefit (DB) schemes.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
GKN's proposed merger deal with Dana means over two thirds of the group's gross pension liabilities will remain with the engineering giant, according to Melrose.
GKN has reached an agreement with its scheme trustees as part of a $6bn (£4.3bn) proposal to merge its Driveline businesses with Dana Incorporated.
The Pensions Regulator (TPR) has expressed concern that a Melrose Industries takeover of GKN is likely to have a "detrimental impact" on the GKN defined benefit (DB) scheme.
GKN has announced plans to make a cash contribution of £160m into its defined benefit (DB) pension schemes as part of demerger plans designed to fend off a hostile takeover by Melrose Industries.
Melrose Industries's UK defined benefit (DB) schemes had a £5.5m combined deficit at the end of 2016, its annual results have revealed.
Melrose Industries has claimed its board has the expertise to manage GKN's substantial pension liabilities in a formal offer letter to the firm's shareholders.
Engineering giant GKN has warned the proposed £7.4bn takeover by Melrose Industries could increase its pensions deficit.
The trustees of GKN Group's schemes have warned Melrose Industries about the pension funding position, following a bid to take over the business.