Law and Regulation

The Pensions Regulator should be given a legal duty to take employers' interests into account when assessing funding and early access should be used to encourage saving, according to a city law firm.

The European Insurance and Occupational Pensions Authority has launched an impact assessment on European Commission plans to overhaul the Institutions for Occupational Retirement Provision directive.

The Australian government passed the law last week to establish a trans-Tasman retirement savings portability scheme.

IBM has lost a rectification case in the High Court which will cost the computing giant £100m.

Saga director general Ros Altmann has said the maths behind the retail prices index is not wrong and the Office for National Statistics' proposal to change it is solely about the government reducing costs.

Employers expect increases in the typical retirement age to outpace the rise in the state pension age, according to research from the Association of Consulting Actuaries.

The European Commission's overhaul of its pensions directive is rushed, counterproductive and borrows too heavily from Solvency II, says a key member of the European Insurance and Occupational Pensions Authority.

Mercer, Aon and Blackrock must compensate a scheme member whose fund was depleted when invested incorrectly following an enhanced transfer exercise.

The Pensions Regulator has defended its decision not to smooth the discount rate by publishing a detailed analysis of the current funding regime.

The Pensions Regulator has reiterated its stance that most firms currently agreeing funding valuations will not need to significantly increase deficit recovery contributions.