Pension Protection Fund

The combined defined benefit (DB) deficit decreased by £52.8bn over January to £51.0bn on a section 179 basis, according to the Pension Protection Fund's (PPF's) latest update.

More than 25,000 steelworkers did not return their 'options forms' and as a consequence will remain in the current British Steel Pension Scheme (BSPS) for now, to move into the Pension Protection Fund (PPF) at the end of March.

The Pensions Regulator (TPR) has provided little evidence of hard action despite being aware of problems at Carillion since at least 2008, Work and Pensions Committee (WPC) chairman Frank Field has said.

The High Court has ruled that Wedgwood made an effective and valid decision when closing the Wedgwood Group Pension Plan (WGPP) to future accrual and ending the final salary link.

Carillion's 13 UK defined benefit (DB) pension schemes had a combined £2.6bn buyout deficit upon its collapse on 15 January, according to an analysis for Sky News.

The UK's defined benefit (DB) pension schemes were 129% funded on a 'best estimate' basis on 31 December 2017, according to First Actuarial.

Carillion's 13 UK defined benefit (DB) schemes were added to the Pension Protection Fund's (PPF) watch list by autumn last year, the Financial Times reports.

Jonathan Stapleton says in light of the construction giant's collapse, the government must urgently tackle the issue of scheme funding.

This week's top stories included coverage of Theresa May's reshuffle, in which the Department for Work and Pensions was given its fifth secretary of state within two years.

Concerns over the potential imminent collapse of construction group Carillion has led to crisis talks over its 13 UK defined benefit (DB) schemes, according to reports.