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Friday 08th of January 2010

News Tag: members

January 4, 2010

Report reveals more pension woes

by Kay Murchie
Report reveals more pension woes
Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members. The ACA, which questioned over 300 companies, found that employers continue to shy away from these high cost schemes with 87% of workplace final ...



August 17, 2009

Half of final salary pension schemes will close

by Kay Murchie
Half of final salary pension schemes will close
A survey of over 250 employers by consultants Watson Wyatt has revealed that half of Britain’s companies will close final salary pension schemes in the private sector to existing employees between now and 2012. The survey, conducted in July, also found that another 28% will keep their scheme open to existing members but on less generous terms. While around three-quarters ...



June 3, 2009

BP and Barclays latest employers to close final salary schemes

by Kay Murchie
BP and Barclays latest employers to close final salary schemes
Oil giant BP announced yesterday it is to close its UK final salary pension scheme to new members from April next year, in a bid to cut costs for the company. The scheme currently has more than 60,000 members, with 12,000 staff paying in. In the meantime, banking giant Barclays has announced today that it will close its ...



October 13, 2008

Mortgage brokers not so gloomy

by Gill Montia
Mortgage brokers not so gloomy
Prior to today's part nationalisation of Royal Bank of Scotland, HBOS and Lloyds TSB, the Intermediary Mortgages Lenders' Association (IMLA) had reported a slight improvement in its members' expectations. According to an IMLA poll of 486 intermediaries, mortgage brokers expect volumes to decline by 2.3% for first-time buyers over the next two months. In the case of remortgagers, volume is expected to fall by ...