News

Philip Hammond's financial update was empty of any direct pensions impacts as the chancellor sought to trim down the fiscal statement.

The Office for Budget Responsibility (OBR) has revised up the UK's GDP growth forecast for 2018 in today's inaugural Spring Statement, while forecasting inflation will fall to 2% by the end of 2018.

Defined benefit (DB) schemes saw a £21.1bn growth in their funding shortfall last month as both gilt yields and equities suffered falls, according to the Pension Protection Fund (PPF).

Pension Insurance Corporation (PIC) has agreed to a £60m, 50-year debt investment in The Mercers' Company, six years after buying out its staff pension fund.

An industry taskforce aimed at boosting innovation in the finance industry to enhance the profitability of social impact investment has been commissioned by the prime minister.

Universities UK (UUK) has come to an agreement with the University and College Union (UCU) over the future of the Universities Superannuation Scheme (USS), reducing entitlement but maintaining defined benefit (DB) accrual.

Cardiff-based financial services business Quantum Advisory has hired three pensions staff to its team, and increased its total number of employees to over 100.

The shadow work and pensions secretary has been forced to stand down amid an investigation over an "employment issue", Labour has announced.

The £41bn Local Government Pension Scheme (LGPS) Access pool has named Link Fund Solutions as its external provider of operator services ahead of the April pooling deadline.

GKN's proposed merger deal with Dana means over two thirds of the group's gross pension liabilities will remain with the engineering giant, according to Melrose.