Scheme closures

The deficit of Tesco's defined benefit (DB) scheme has fallen by £1.6bn after reaching £4.2bn last year as the supermarket moves into the black.

The biggest stories on PP this week include AMNT launching its red lines initiative to give trustees more voting power and HSBC slashing 'pension' payouts for top executives. Here are the top five

Consultations should not be just for show

There are plenty of alternatives to just closing schemes

The funding level of Tesco's defined benefit (DB) pension scheme has fallen yet again as it revealed its first-half profits have more than halved.

Haynes Publishing Group has shut its defined benefit (DB) pension scheme to new entrants as the company's revenues have fallen in the past year.

A nationwide strike at Tata Steel has been called off after the firm agreed to keep its scheme open in return for changes to benefits that will cut £1bn from its deficit.

The MNRPF ruling clears up whether a final salary link means schemes remain open to accrual

Beleaguered supermarket Tesco is planning a cost-cutting drive which will see it suspend its dividend, close stores, and appoint a new UK CEO in a bid to reverse its fortunes.

UK schemes have increased longevity assumptions by six months in the last three years, according to research from Mercer.