Legislation

Pension funds face a double hit from a proposed European-wide financial transactions tax, the Investment Management Association warns.

The Department for Work and Pensions has delayed the introduction of amendments to the Employer Debt Regulations until December, it has announced.

A drafting "anomaly" in the Pensions Bill concerning the change from RPI to CPI indexation must be addressed before it gets royal assent, lawyers warn.

The abolition of the default retirement age will mean employers have to sharpen their management processes, delegates heard.

Large firms still have time to start auto-enrolment preparation but it must begin before Christmas, delegates heard.

There is little hope government will not legislate to deal with the problem of guaranteed minimum pension equalisation, delegates heard.

IRELAND - The Government's controversial pensions levy has had a "devastating impact" on the country's pension system, Irish Life & Permanent chief executive, retail, Gerry Hassett has claimed.

The government are yet to develop a grand vision for pensions and should be prepared to resort to compulsion if auto-enrolment fails, delegates heard.

US - Federal employees would have to contribute 1.2 percentage points more of their salary towards their retirement plans under plans put forward by President Barack Obama.

UK - The Pensions Bill will have its third reading in the House of Commons on 18 October.