DB Membership

Eldi_Dos

I left a company in 2000, shortly after that they closed their DB pension scheme. Since then I have noticed in the annual trustees report that they give breakdown of fund membership and there is one active member then an amount of deferred members and pensioners (approx 4800 total). Why would there be one active member and what would their role be

TVAS

How would we know?
The scheme cannot it be closed if there is one Active member. I suspect it is the CEO.
I recall this happened in a scheme the other and the member trustees petitioned for this to be closed. So you could go down this route. 
 

hugheskevi

It may be to avoid triggering repayment of employer debt, by ensuring there is always at least one active member - you can read more about this at this link.

Marcon

Eldi_Dos said:

I left a company in 2000, shortly after that they closed their DB pension scheme. Since then I have noticed in the annual trustees report that they give breakdown of fund membership and there is one active member then an amount of deferred members and pensioners (approx 4800 total). Why would there be one active member and what would their role be

Two possibilities: it's all about avoiding triggering something known as a S75 debt (if you really want the jargon - and I'm sure you don't!), which in lay terms means thumping the employer for an immediate and mighty amount of cash; or it is being done to prevent the trustees from winding up the scheme if they have the power to do so without the employer's consent IF there are no active members (same likely outcome - the employer would have to fork out a huge amount of cash).

The scheme can be closed in the sense that it will not admit any further new members and/or it will not allow future accrual in respect of anyone other than this one member - who is most unlikely to be the CEO.

Eldi_Dos

TVAS said:

How would we know?
The scheme cannot it be closed if there is one Active member. I suspect it is the CEO.
I recall this happened in a scheme the other and the member trustees petitioned for this to be closed. So you could go down this route. 
 

Have received 2nd tranche of Pfizer and good news on BMI,am thinking of leaving bubble and joining Civilization but have been unable to find any favourable reviews for Venezia Metro, if I go down that route any insights on ways to reduce fees.

TVAS

I have just remember the DB pension that was closed to active members. It was Lloyds Bank
https://www.bbc.co.uk/news/business-47633079

The boss of Lloyds Banking Group has given up his lucrative final salary pension after mounting pressure over the perk.

Antonio Horta-Osorio was the only employee entitled to such a pension, having overseen the ending of final salary schemes in 2014.

Staff had criticised his arrangement, and there was talk it could overshadow Lloyds' annual shareholder meeting.

But the banking giant insisted it was entirely Mr Horta-Osorio's decision.

The chief executive's own arrangement dates back to a pension he forfeited when he took over at the banking giant after leaving Santander in 2011.

The Investment Association, a big city trade body for UK investors, has been pressing companies to crack down on excessive executive pensions, arguing that they are against the interests of shareholders and staff.

Zanderman

Eldi_Dos said:

TVAS said:

How would we know?
The scheme cannot it be closed if there is one Active member. I suspect it is the CEO.
I recall this happened in a scheme the other and the member trustees petitioned for this to be closed. So you could go down this route. 
 

Have received 2nd tranche of Pfizer and good news on BMI,am thinking of leaving bubble and joining Civilization but have been unable to find any favourable reviews for Venezia Metro, if I go down that route any insights on ways to reduce fees.

??  Not sure I understand - but congrats on on jab#2.
The only Venezio Metro I know is an underground station.  Which isn't open yet, so that route may be a dead-end. Perhaps try another route on the Rome underground!