News

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.

Postal workers have voted strongly in favour of a deal that includes plans to set up the UK's first collective defined contribution (CDC) pensions scheme, during a Communication Workers Union (CWU) ballot on 28 March.

Steelworkers are set to receive their first payments today from the new British Steel Pension Scheme (BSPS), which is now in full operation for over 80,000 employees.

John Ball has been appointed as the Church of England Pension Board's new chief executive officer (CEO).

Providers offer 'large amounts of information'

Over 170 asset managers have rejected an initiative which requires better disclosure of fees UK public pension funds are charged, despite increased regulatory pressure on costs throughout the industry.

Edward Levy has been appointed as a trustee director at Law Debenture in a bid to expand its trustee team.

The Nortel Networks UK Pension Scheme will boost benefits for members and leave Pension Protection Fund (PPF) assessment, nine years after the collapse of the US-based telecommunications company.

Ex-BHS chief Dominic Chappell faces up to 15 years of disqualification from running or controlling companies for his handling of British Home Stores (BHS).

The pressure of "excessive regulation" is causing a drop in the number of lay trustees and deterring people from taking up the role, according to this week's Pensions Buzz respondents.