Professional Pensions speaks to Santander UK director of pensions Antony Barker about how his fund achieved record returns in June and the road ahead for scheme investment and the economy at large.
Santander has trimmed its UK defined benefit (DB) pension scheme obligation by £230m by introducing a cap on pensionable pay increases, according to the bank's half-yearly report.
The trustee of the Santander UK Group Pension Scheme has hired JLT Employee Benefits (JLT EB)for administration services across its defined contribution (DC) and defined benefit (DB) schemes.
Santander's combined defined benefit (DB) deficit has increased more than five times in the first half of the year, its interim results show.
The government has begun to sell off former assets of the Royal Mail Pension Plan with the sale of £400m of properties to the Santander Pension Scheme.