The beleaguered Nortel Networks UK Pension Plan has entered into a £2.4bn buyout with Legal & General (L&G), insuring members' benefits nearly a decade after its sponsor collapsed.
The Pension Protection Fund has seen its funding level improve by 1.2 percentage points, after enjoying above target returns in a year when it took on pension schemes of big corporates like Carillion.
This week's top stores included news that Nortel Network's UK defined benefit scheme will exit Pension Protection Fund assessment with £550m from insolvency proceeds to use to boost members' benefits.
The Pensions Regulator (TPR) has published a section 89 report on the use of its anti-avoidance powers in seeking financial support for the Nortel Networks UK Pension Plan.
This week's top stories included coverage of Labour's leaked manifesto and a settlement being reached in the long-running Nortel Networks saga.
Members of the Nortel Networks UK Pension Scheme are due to receive more than £1bn after a settlement was agreed in a long-running court battle across two continents.
Pension schemes have been forced to rethink and reshape by the courts over the last 20 years. James Phillips looks back at the most impactful cases
An agreement has been reached on how to compensate members of the Nortel pension scheme after years of negotiations since the company went bust in 2009.
The Nortel cases continues to set precedents
Nortel Networks has agreed to pay the trustee of its UK pension scheme $37.5m (£22.9m) to settle claims against its US firms.
The trustee of the Nortel Networks UK Pension Plan is petitioning the US Supreme Court to gain access to the company's bankrupt US affiliates' cash.
The man responsible for mediating a £2.1bn UK pension claim on bankrupt firm Nortel Network's assets has launched a website to keep people up to date with developments.
The Pensions Regulator has spent nearly £3.2m on external barrister fees over the past two years, with one-third of those costs spent on one legal case alone, figures show.
The Nortel/Lehman appeal case with The Pensions Regulator begins on Monday in the Court of Appeal, but sources predict it is destined for the Supreme Court.