Newspaper publisher Reach has requested discussions with the trustees of its pension funds to defer deficit recovery contributions (DRCs) to shore up finances during the coronavirus pandemic.
This week's top stories included TPT Retirement Solutions consolidating the £30m Hinckley and Rugby Building Society's defined benefit scheme, and Guy Opperman becoming the second-longest serving pensions minister.
British Steel financial adviser and former managing director of Active Wealth UK Darren Reynolds advised a group of people from the Trinity Mirror pension scheme to transfer out of their defined benefit (DB) pensions.
The newspaper publisher is offering a one-off upfront £41.2m cash payment and £29.2m deficit recovery plan for the Northern & Shell defined benefit (DB) schemes as part of its planned acquisition.
The aggregate deficit of Trinity Mirror's three final salary defined benefit (DB) schemes grew by 52% over 2016.
Trinity Mirror Group's defined benefit (DB) pension deficit has increased by £120.8m to £426m in the past six months, driven by a fall in long-term interest rates.
The Trinity Mirror Group has agreed to pay £36.2m into its defined benefit schemes on an annual basis over the next three years to plug its ballooning deficit.
Liverpool has been alive with industry figures attending the National Association of Pension Funds (NAPF) annual conference this week, and here are the top ten stories from the event.
The pensions industry is obsessed with charges even though contribution rates are a bigger issue, Trinity Mirror's chairman of trustees has said.
Trinity Mirror's pension liabilities rose by £12.5m last year as a result of a fall in the real discount rate from 1.7% to 1.05%, its annual statement showed.