Legislation

Financial secretary to the Treasury Mark Hoban has defended auto-enrolment after a senior pension adviser labeled it the next mis-selling scandal.

EUROPE - The Association of Consulting Actuaries has urged government to seek further legal certainty on guaranteed minimum pension equalisation because of the £10bn ($16bn) cost to employers.

The Department for Work and Pensions has launched a consultation to extend the rules of the Financial Assistance Scheme to insure schemes exempt from the Pension Protection Fund.

The Royal Mail's £10.3bn pensions deficit will be taken on by the tax-payer next spring as legislation to privatise the service is expected to become law next week.

US - New York State Governor Andrew Cuomo has introduced pension reform legislation that would impose a new Tier VI for future employees and save taxpayers $93bn over the next 30 years.

The government has set a date for the second reading of the controversial Pensions Bill.

LITHUANIA - Lithuanian is to to raise the pension age to 65 in a bid to improve the country's finances.

The Prime Minister has become embroiled in the row over raising the state pension age for women.

The government must move forward with the Pensions Bill before the summer recess, Labour pensions spokeswoman Rachel Reeves says.

The government could respond to planned industrial action over public sector pension changes by strengthening anti-strike laws, business secretary Vince Cable has warned.