FTSE100

The Kingfisher Pension Scheme has undergone a £230m medically underwritten buy-in with Legal & General (L&G) in a landmark deal for the bulk annuity market.

Friends Life, now part of the Aviva group, has been appointed corporate pension provider for Rolls-Royce.

Total funding levels of defined benefit (DB) pension schemes have improved since January despite volatile markets and low interest rates, according to JLT Employee Benefits.

Japanese equities plunge 5%

Shanghai Composite index plummets 7%

The rate of defined benefit (DB) scheme closure among FTSE 100 companies is gathering pace, according to research by JLT Employee Benefits.

HSBC is to cut pension payments to its highest executives from next year as part of plans to bring its policy in line with other top FTSE companies, according to reports.

IFS Proshare head Gabbi Stopp has warned that employers with share schemes need to continue promoting the benefits of their plans.

Deficits in defined benefit (DB) schemes have deteriorated over the last 12 months due to low gilt yields and market volatility over the summer, according to JLT Employee Benefits.

Executives at blue chip companies had average employer contributions worth 34.1% of salary last year, according to the Trades Union Congress (TUC).