M&S

Marks and Spencer (M&S) has announced proposals to close its UK defined benefit (DB) scheme to future accrual as it sets out a turnaround plan for the business.

Marks and Spencer has reached an agreement with the trustees of its defined benefit (DB) pension scheme to increase annual cash contributions for future service by £15m.

Moves to erode self-serving behaviour within the pensions industry could backfire, M&S pensions strategy specialist Julie Parker-Welch has warned.

Marks and Spencer will halve annual contributions to its defined benefit scheme from £60m to £28m over the next three years, after its deficit shrunk to £290m.

The industry will fail to increase member engagement unless pensions professionals understand the difference between disclosure and communication, says Society of Pension Consultants chairman Roger Mattingly.

Keith Bray looks at the rise of the Local Authority Pension Fund Forum and explains how, by acting together, council pension schemes can maximise their influence as shareholders.

Administering auto-enrolment is an "absolute nightmare" for large employers, according to Marks & Spencer.