Legislation

The British government faces a potential legal challenge over annuities, after a pensioner filed a writ claiming that current legislation contravenes the European Convention on Human Rights.

The UK Conservative Party has criticised the Chancellor for failing to address a "stealth tax" it imposed on pension funds a month after coming to power with the abolition of the Advance Corporation Tax (ATC).

The new UK Government rebates for contracted-out money purchase pension schemes could have wide repercussions for the future of occupational pension provision, according to William M Mercer, the actuarial and employee benefits consultancy.