Investment

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.

Redrow has capped increases in pensionable salary for active members of the defined benefit section of its pension scheme.

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.

UK - The aggregate funding position of the 7400 defined benefit pension funds monitored by the Pension Protection Fund worsened to a deficit of £173.2bn in August.

AUSTRALIA - FTSE Group and the Association of Superannuation Funds of Australia (ASFA) have unveiled a series of indices providing industry standard tax-adjusted benchmarks for superannuation funds.

IRELAND - The Irish taxation commission has proposed tax relief changes on pension payments in a bid to make the tax treatment of retirement savings fairer.