News

Research highlights confusion about where responsibility to support members on transfers lies. Kim Kaveh looks at the key findings

This week's top stories include Prudential slashing the size of its corporate defined contribution business, and National Grid's £2bn longevity swap with Zurich.

The pensions watchdog has appointed enforcement officers to seize assets from employers who fail to pay fines relating to their schemes. Victoria Ticha asks if this is the right approach

The combined IAS 19 accounting surplus of Royal Mail's defined benefit (DB) schemes fell to £2.2bn in March from £3.8bn a year ago, according to its annual report.

Xafinity has rebranded to XPS Pensions Group following its acquisition of the actuarial consulting, pensions administration and investment consulting businesses of Punter Southall Group earlier this year.

The Marks and Spencer (M&S) Pension Scheme has insured around 15% of its pensioner liabilities through two bulk annuity insurance policies with Aviva and Phoenix Group.

Struggling children's retailer Mothercare has announced plans to overhaul its store portfolio through a Company Voluntary Arrangement (CVA), by closing 50 shops and negotiating reduced rents.

Some 90% of schemes have seen an increase in the number of requests from members for transfer values over the last 18 months, according to an Aon study.

Some 95% of defined benefit (DB) trustees and sponsors are concerned about the consequences of members getting inadequate support for their retirement options, according to Hymans Robertson research.

Andy Lewis says the introduction of deferred debt arrangement in the employer section 75 debt regulations may bring relief but not be the best solution