defined benefit

Finance chiefs with defined benefit pension schemes in deficit are considering upping their contributions to their company's pension fund to reduce potential shortfalls, research suggests.

The BBC's Panorama programme recently featured the alleged payment of bungs (more politely referred to as ‘irregular payments' by the Premier League) to football managers.

Most companies are unaware closing a defined benefits (DB)pension scheme is not enough to avoid a Pensions Protection Fund (PPF) levy, warns First Actuarial.