Industry

Bridge Trustees is considering taking a test GMP equalisation case to the European Court of Justice to clarify how the issue should be tackled, PP has learned.

It is already the driest UK summer on record. In financial markets, liquidity also seems to have drained away.

A "herd-like" move towards defined contribution and a further lowering of scheme quality levels in 2012 could lead to an almost "third-world" level of pension provision, Geoffrey Staines warns.

The BBC's plan to close its defined benefit pension scheme to new members and cap the pensionable salary of active members makes it the first major public sector scheme to seriously grapple with its pensions costs.

Unfunded public sector schemes have been run like an "unstable Ponzi scheme", a report warns.

The Financial Services Authority has gone out to consultation on plans to amend rules regarding contracting out comparisons.

Two Dutch firms, BinckBank and Delta Lloyd, have joined forces to launch a defined contribution retirement vehicle for multi-national companies.

Saga was the only top five annuity provider not to cut rates following George Osborne's emergency Budget on June 22, Alexander Forbes Annuity Bureau says.

HM Revenue and Customs has decided investors aged 50 to 55 can transfer drawdown funds between providers while taking income without being subject to tax charges.

BBC unions have threatened strike action over the proposed changes to the pension scheme after talks broke down yesterday.