Unilever

With one of Europe’s most well-known companies planning its most significant pension scheme overhaul to date, unions have stepped in to ensure workers are not short-changed. Hope William-Smith reports.

Unilever has set out plans to overhaul its defined benefit (DB) pension arrangements in a bid to manage costs.

Wendy Mayall who is the former chief investment officer (CIO) of Unilever's pension fund has been made a non-executive director at Phoenix Group.

The 300 Club has welcomed Unilever's pension global chief investment officer (CIO) Mark Walker to its team of investment professionals.

Rising longevity poses a much greater threat to companies with defined benefit (DB) pension schemes than low interest rates, Fitch Ratings has warned.

Nigel Stapleton has been appointed as chairman of the National Grid's UK pension scheme with effect from 1 November 2014.

The Uniac Pension Fund, which provides benefits for Unilever workers seconded overseas, has agreed a £129m buy-in with Legal & General (L&G) to cover its pensioner members.

Unilever UK Pension Fund, The Pensions Trust and the Environment Agency Pension Fund are among the latest schemes to sign up to responsible investment.

The Unilever defined benefit (DB) scheme deficit has fallen from £2.72bn to £1.65bn over 2013.

The latest set of financial results from FTSE companies has re-ignited the debate over smoothing discount rates as strong asset returns were wiped out due to falls in discount rates.