All scheme closure articles – Page 3
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News
Choosing the right derisking path
Analysis: Consultants say bulk annuity pricing has never been so attractive, yet the majority of pension schemes see self-sufficiency as their likely destiny. Who is wrong?
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News
Ofwat queried on water companies' DB closure plans
Chair of the Work and Pensions Committee Frank Field has written to Ofwat, the utilities regulator, about proposals by United Utilities and Anglia Water to close their defined benefit schemes to future accrual while continuing to pay out large amounts to shareholders.
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CWU members vote for Royal Mail deal
The Communication Workers Union has announced that its members have overwhelmingly voted in favour of a deal with Royal Mail over pensions and pay.
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BT agrees to replace DB with ‘hybrid' scheme
BT has announced the closure of its defined benefit scheme and has agreed to develop a ‘hybrid’ solution with the Communication Workers Union.
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OpinionPutting the USS closure debate into perspective
Pensions in the UK are often divided between the haves and the have-nots.
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BT sweetens DB closure with promise of 'hybrid' scheme
BT has announced the closure of its defined benefit scheme and agreed to work with the Communication Workers Union over a forthcoming ‘hybrid’ solution.
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United Utilities faces two-day strike over pensions
About 1,500 United Utilities employees are expected to walk out on Friday and Monday because of the company's plans to change the final salary scheme to a hybrid arrangement.
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OpinionLearning the lessons of Carillion
The industry is once again watching with interest and some discomfort as Frank Field and the select committee conduct their inquiry on Carillion’s failure and the impact on its pension schemes.
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UUK and UCU strike pensions deal
Universities UK, which represents employers, and the University and College Union have said they reached an agreement on Monday in the dispute about the closure of academics' defined benefit arrangement.
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Anglian Water in spat with three unions
Anglian Water has refused to meet unions GMB, Unite and Unison for talks at a conciliation service over the closure of its defined benefit pension scheme, prompting them to accuse it of provoking industrial action.
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Universities minister: Compensate students for UCU pensions strike
Universities minister Sam Gyimah has said universities should compensate students for teaching time lost because of academics' ongoing strike over pensions.
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BT to close DB managers’ scheme
BT is to close its defined benefit BT Pension Scheme to managers for future accrual on May 31 2018.
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OpinionIndustries in turmoil
Editorial: The Carillion debacle is still unfolding and could yet reverberate across the professional services industry, while concerns mount over other outsourcing giants.
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NewsNissan defies carmaker trend towards DC
Car manufacturer Nissan is consulting on a proposed switch to a career average scheme to reduce the volatility of its pension liabilities, amid recent and proposed moves to defined contribution in the industry.
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Royal Mail and CWU reaffirm commitment to CDC
Royal Mail and the Communication Workers Union have reiterated that they have "reached an agreement in principle" on pensions, pay, a shorter working week, culture and operational changes. The union's executive recommends that CWU members vote in favour of the proposals in an upcoming ballot.
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British Steel scheme consultation closes
The British Steel Pension Scheme has closed its 'Time to Choose' consultation, with the scheme receiving responses from 97,000 of its 122,000 members.
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GMB union hits out over pension funding in water industry
Trade union GMB attacked Prime Minister Theresa May over her statement in the Observer that she would "fine greedy bosses who betray their workers".
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CWU and Royal Mail reach agreement
The Communication Workers’ Union has announced that it has agreed a deal with Royal Mail over pensions and pay.
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Academics back strike action over USS DB closure proposal
Staff strikes are set to cause significant disruption across 61 of the UK's universities in February, after union members voted to take industrial action over changes to their pension provision.
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NewsSouthampton uni's DB closure proposal poorly timed, experts say
The University of Southampton is consulting on the closure of its defined benefit scheme for non-academic staff, a move experts have said is not well timed given current scrutiny of senior pay packages at universities.