Tesco

The deficit of Tesco's defined benefit (DB) scheme has more than doubled to £5.9bn in just seven months, overshadowing the supermarket's sales growth.

The cost of defined benefit (DB) schemes sponsored by FTSE 100 companies could double from £7bn to £14bn per annum by 2019, according to JLT Employee Benefits.

The biggest stories this week were backlash over Bentley's plans to pass NI costs onto DB members, Rothesay Life buying two-thirds of Aegon's bulk annuity book, and speculation over the future of the British Steel scheme.

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.

Understanding members' retirement objectives is key to ensuring default strategies remain fit for purpose according to Tesco group pensions director Ruston Smith.

Tesco has appointed Legal & General as its defined contribution (DC) bundled pension provider.

Tesco's largest shareholder, the Norwegian government pension fund, has offloaded a large proportion of its holding in the supermarket.

UK defined benefit schemes ended 2015 with an aggregate deficit of £228bn after another difficult year, according to research from JLT Employee Benefits.

Big data is changing the way many industries operate, Michael Klimes asks if it can do the same for pensions

Top stories on the site this week include plans to merge the LGPS into six 'wealth funds', a legal challenge to make schemes equalise death benefits for same-sex couples, and a growing deficit at Tesco.