Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.
The shadow pensions minister has said a future Conservative government will not rescue the Pension Protection Fund (PPF) should the compensation scheme fall into hardship, reports The Guardian.
Defined benefit schemes saw an increase of more than £170bn in total deficits in 2009, marking the worst year on record, Pension Capital Strategies (PCS) says.
Some employers are using ‘worrying' tactics to convince their employees to leave final salary pension schemes, according to The Pensions Regulator (TPR).
The financial performance of defined benefit (DB) pension schemes improved in November on the back of rising equity markets, according to the Pension Protection Fund (PPF).
Employers are saving up to £4.53bn a year in pension contributions as millions of employees withdraw from final salary schemes, MGM Advantage research reveals.
Trustees of final salary pension schemes should act to support their sponsor companies during the economic downturn, despite facing a £45bn annual shortfall, according to Aon Consulting.
Conservative Party plans to abolish public sector final salary pensions would destroy "the best pension schemes in Britain", argues Pensions Minister Mike O'Brien.
Mark Twain once remarked ‘reports of my death are greatly exaggerated' upon hearing that his obituary had been published in the New York Journal.
SEVERAL hundred Standard Life employees are expected to attend an open meeting on the company's proposed pension changes organised by the Amicus trade union today in Edinburgh, says the Scotsman .