News

A study by the Chartered Institute of Personnel and Development (CIPD) has revealed a 17% drop in pay for executives in the 100 largest listed companies.

Defined benefit (DB) transfer values remained fairly stable in July, falling by just £2,000 to £230,000 by the end of the month, according to Xafinity's monthly index.

The accounting deficit of FTSE 350 defined benefit (DB) schemes fell by £9bn over July on the back of lower long-term inflation expectations, according to Mercer's latest index.

Held a number of influential business roles

The landmark Court of Appeal judgment which allowed IBM to impose a cap on increases in pensionable pay will not be appealed to the Supreme Court, according to a members' forum.

Interest rates may increase faster in the future than financial markets have priced in, the Bank of England's (BoE) deputy governor has said.

The Pensions Ombudsman (TPO) has backed the Halcrow Pension Scheme (HPS) trustees after they reduced the level of indexation for transferred-in benefits when members were transferred to another scheme.

Sir Derek Morris, who led the government's 2005 Morris review of the actuarial profession, has joined not-for-profit master trust Cheviot Trust.

This week's top stories included reports that chancellor Philip Hammond is considering cutting higher-rate tax relief in the Autumn Budget, while the Court of Appeal ruled IBM had the right to impose a cap on increases in pensionable pay.

LGSS Pensions has partnered with ITM to complete guaranteed minimum pension (GMP) reconciliation projects for four public sector funds.