Royal Mail

Consultation places the logistics group one step closer to launch of collective scheme

Liabilities for the Royal Mail Statutory Pension Scheme stable at £48.6bn

LCP said the government must evolve the CDC criteria for multi-employer schemes

Industry called on to provide feedback on what schemes must do to become authorised

Announced as draft regulations to enable the scheme type are set for publication this month

DWP to consult on regulations as industry poll finds widespread adoption expected

The deficit of Royal Mail’s defined benefit (DB) cash balance scheme increased over the year as the company awaits secondary legislation for collective defined contribution (CDC), according to its annual results.

Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).

Typical collective defined contribution (CDC) pensions would be expected to average 70% higher than either individual DC insured annuities, or 40% higher than pensions provided on average in defined benefit (DB) schemes, analysis from Willis Towers Watson...