Lloyds

Lloyds Banking Group will compensate Standard Life Aberdeen (SLA) £140m for the attempted early termination of an investment management arrangement for Scottish Widows worth over £100bn.

The cost of equalising guaranteed minimum pensions (GMPs) has been revised down by around £7bn, nearly half that of an initial £15bn estimate.

A groundhog year kicks off as many of 2018's biggest court cases return on appeal. James Phillips rounds up what trustees should keep an eye on.

This week's top stories were industry reaction to the Lloyds GMP equalisation judgment, and Workchain's £280,000 fine for illegally opting workers out of their pension scheme.

The High Court ruling on guaranteed minimum pension (GMP) equalisation may have said various methods were possible but, in practice, schemes will find it fairly easy to implement, legal experts say.

Henry Tapper says the Lloyds GMP ruling will see little benefit for members but profound fees to administrators.

Jonathan Stapleton says the GMP headache may persist as schemes take action following ruling.

This week's top stories included the High Court ruling that guaranteed minimum pensions must be equalised, and Ford offering partial defined benefit transfers to members.

Schroders is set to land the £109bn Scottish Widows mandate as it offers a stake in its wealth arm Cazenove Capital as part of the negotiations, according to reports.

The defined benefit (DB) pension schemes of Lloyds Banking Group saw their combined accounting surplus grow by £954m over the first six months of 2018.