News

The closure of defined benefit schemes hit its fastest rate ever during 2012, with the proportion of open schemes falling from 19% in 2011 to 13% by the end of last year, National Association of Pension Funds figures show.

Capita is recommending that all employers with dependents pensions should abandon them if possible.

The government has launched a call for evidence on whether smoothing discount rates could "materially improve" UK employers' ability to attract investment or invest in the short term.

The Department for Work and Pensions has launched a consultation on creating an objective for the Pensions Regulator to consider the long-term affordability of deficit recovery plans for defined benefit schemes' sponsors.

The Pensions Regulator has given its Determinations Panel an explicit power to request extra evidence from schemes when considering cases.

The Local Authority Pension Fund Forum has appointed Councillor Kieran Quinn as its chairman.

HMV's administrator has submitted section 120 forms to the Pension Protection Fund despite the purchase of its debt by Hilco.

Towers Watson has appointed Jeremy Spira to its investment business' Thinking Ahead Group.

The Pension Protection Fund is to set up three new panels in a bid to speed up its assessment and wind-up processes.

The government will publish a call for evidence on two major changes to the way the way defined benefit deficits recovery plans are regulated tomorrow (Friday 25 January).