From IDS Pensions Bulletin 208, September 2007

Company news

• New civil servants offered membership of ‘nuvos’
• BA reports on investment performance
• Bank of England reviews its pension provision

Regulatory round-up

• Cripps v Trustee Solutions – implications for scheme wind ups
• New proposals on employer debts

Average pensions-in-payment have risen by four per cent to £5,251

The eleventh IDS Pensions Service survey of the average pension paid by occupational pension schemes shows that the latest mean annual payment made by 236 schemes was £5,251, compared to £5,051 paid by the same 236 schemes in the previous scheme year. This is a rise of four per cent and is matched by a rise in expenditure on pensions-in-payment of 4.1 per cent over the same period.

Comment

Steve Delo, President of the Pensions Management Institute, looks at the PMI’s new initiative, trusteeweb, an online community for trustee which it is hoped will allow trustees to share practical experiences in a confidential environment.