From IDS Pensions Bulletin 214, April 2008

Company news

• Imperial Tobacco adopts flexible retirement
• Assets of the Rank Pension Plan transferred to Goldman Sachs
• Morgan Crucible buys out pensioner liabilities

Regulatory round-up

• Conflicts of interest

United Biscuits moves to CARE Scheme

In December 2007 United Biscuits (UB) decided to close its final salary scheme to future accrual and put in place a new CARE scheme for the active members of the now closed final salary scheme. We look at the new scheme and at how the company consulted with the affected members.

Who should be responsible for risk?

Although the closure of defined benefit schemes has slowed in recent years, it is still widely accepted that future pension provision, at least in the private sector, will be predominately defined contribution. This survey looks at the implications of the move from DB to DC pension provision and tries to establish whether there is a ‘third way’ for employer-sponsored pensions.

Comment

Thom Bentley, Director – Institutional Marketing at Muzinich & Company Limited, looks at the advantages of investing in high-yield bonds.