May 4, 2023 | All Members, Pensions
Lloyds made a total of £2.2bn of pension scheme deficit reduction contributions in 2022. Those contributions were made to the group’s three main defined benefit (DB) pension schemes. Fixed deficit reduction contributions of £800m were paid in full during the first...
Apr 28, 2023 | All Members, Pensions
A few weeks ago, the Bank launched its new redundancy policy, which will see payments slashed for those staff who refuse the offer of a ‘reasonable’ alternative role (as defined by the Bank of course) or reskilling opportunity. Lloyds has now announced –...
Feb 7, 2023 | All Members, Executive Pay, Pensions
Members will recall that in one of our previous Newsletters we discussed in detail the bank’s new retail strategy. Whilst the new value treatment strategies are all very interesting, our concern is about how the rush for growth is going to change the culture of the...
Dec 15, 2022 | All Members, GMP Court Case, Pensions
At the end of October, we wrote to hundreds of members who had transferred their pensions out of one of the Lloyds Banking Group final salary pension scheme providing them with a standard letter to send to the Trustee. That letter said: “I have enclosed details of...
Dec 2, 2022 | All Members, Halifax, Pensions
The Times and Financial Times have reported that the Trustee responsible for managing Lloyds Banking Group Pension Schemes with assets worth £50 billion was forced into a fire sale of equities and faced collateral calls of billions of pounds at the height of the gilts...
