Defined Contribution

David McCourt details the NAPF's response to PADA's discussion paper on personal accounts

SPAIN - Spanish defined contribution plans posted positive annual results for the first time since 2007, data from the Asociación de Instituciones de Inversión Colectiva y Fondos de Pensiones (Inverco) revealed.

Coverage of corporate defined contribution plans is not growing fast enough to fill the gap left by the continuing closure of defined benefit, Trades Union Congress analysis reveals.

Top company directors pensions' have increased 23% in the past 12 months and can reach £250,000 a year, the Trades Union Congress claims.

Calls by the Trades Union Congress for the government "build upon" restrictions on pensions tax relief are misconceived.

The Personal Accounts investment discussion paper received more than 60 industry responses which will help form its final package of advice to the trustee board.

Proposals urging the government to build upon restrictions on pensions tax relief to help those less well off will not encourage good employer provision, industry bodies say.

Tim Jones has hit back at industry fears about the potentially "unfettered power" of the personal accounts trustee board.

David Seaton was this week described as a "great ambassador" and a "true gentleman" by friends and colleagues following his death.

The government must "build upon" restrictions on pensions tax relief to help those less well off, the Trades Union Congress says.