Legislation

US - Local unions have filed a lawsuit against New Jersey to overthrow a new law which requires employees to contribute more for their pension.

NEW ZEALAND - The New Zealand Superannuation fund has returned 25.05% for its fiscal year ending June 2011.

Complications associated with the changes to the contracting-out regime should trigger scheme sponsors into reviewing their benefits they want to offer, a consultant says.

Failing to keep an accurate record of member data can have expensive consequences on wind-up in spite of legislation in place to protect trustees, a lawyer warns.

NEW ZEALAND - The New Zealand superannuation fund is defending against Green Party claims saying it invests in companies manufacturing cluster bombs.

European Union rules on the establishment of cross-border pensions must be simplified, Aon Hewitt believes.

Legislation to introduce a single-tier basic state pension is set to include options to help firms offset the loss of the contracting out rebate, according to a business lobby group.

The Department for Work and Pensions has confirmed when employers must pay pension contributions for workers on maternity leave after confusion over the law.

UK - The Society of Pension Consultants has urged government to pass legislation defining money purchase benefits immediately, or risk schemes not operating correctly.

The Society of Pension Consultants has urged government to pass legislation defining money purchase benefits immediately, or risk schemes not operating correctly.