News

Airways Pension Scheme (APS) trustees used the threat of discretionary increases to try to get British Airways (BA) to maintain a funding schedule and recovery plan based on the Retail Price Index (RPI), the High Court has heard.

Aviva has called on the government to increase minimum auto-enrolment (AE) contributions to 12.5% by 2028 to ensure people build adequate pensions, as part of ten recommendations.

‘Proportionate balance between benefits'

The UK's 5,945 defined benefit (DB) schemes had a £306bn surplus under realistic investment return assumptions by the end of October, according to First Actuarial.

Airways Pension Scheme (APS) members were sometimes hostile and intimidating towards trustees and advisers over pension increases, the scheme actuary has recalled during a landmark High Court case.

Legal & General has completed a £1.1bn pension buyout for the Vickers Group Pension Scheme which is part of the Rolls-Royce Group.

Capital adequacy for master trusts should be set at a minimum of £2m to ensure a robust and innovative market according to Now Pensions.

Aon Hewitt has been appointed fiduciary manager by the Sevcon Limited Pension Plan.

Most respondents in this week's Pensions Buzz believe there should be higher scrutiny of advisers after the BHS fiasco.

Granting discretionary increases was not necessarily precluded by the scheme being in deficit, the Airways Pension Scheme (APS) actuary has said in the landmark High Court case.