Open letter to DCLG on new rules

INDIA - The Employee's Provident Fund Organisation (EPFO) announced a 7% increase in assets in the nine months to the end of 2006, totalling R967.7bn (US$23.4bn).

NETHERLANDS - Dutch electronics firm Philips has slammed standard defined contribution (DC) plans for being too complex after revealing plans for a new design.

ALMOST nobody in the UK feels they could live comfortably on the basic state pension, research by Friends Provident has found.

Ministers could increase Financial Assistance Scheme payouts if wind-up members received all the cash promised by chancellor Gordon Brown, trade union Amicus claims.

SIPP deadline rush

PEOPLE who retire now can expect better annuity rates than those who retired at the end of last year, figures show.

IRELAND - Richard Bruton, finance spokesman for the main opposition party Fine Gael (FG), accused Fianna Fail (FF), of making pension promises it had no intention of keeping.

Shopworkers' union Usdaw is seeking talks with Kohlberg Kravis Roberts amid concerns over the security of jobs and pensions if it buys Alliance Boots.

HEXAM Capital Partners has moved its absolute return funds into aggressive net short positions over worries global markets are rallying because of "greed and fear".