Legislation

UK - Plans to allow early access to pension savings have been buried after a consultation revealed "insufficient evidence" it would encourage more saving, the Treasury says.

Plans to allow early access to pension savings have been buried after a consultation revealed "insufficient evidence" it would encourage more saving, the Treasury says.

Only 7% of workplace pension professionals believe employers would set up trust-based schemes to take advantage of short-service refunds, a study shows.

Just 2% of retirees in the UK will have enough money to meet the government's new minimum income requirement and use flexible drawdown arrangements, research shows.

Prudential has won its High Court dispute with members of its pension scheme over changing the basis on which it granted discretionary increases to pensions in payment.

US - President Barack Obama, in his speech unveiling $4trn in budget cuts yesterday, said he wanted to avoid drastic cuts to Social Security, but that the system needs reform to strengthen it over the long haul.

Defined benefit schemes will be given free reign to change their accrual rates to offset the costs of scrapping the contracting-out rebate, PP has learned.

EUROPE - Proposed European Union plans to make scheme funding rules uniform across member states could force UK firms to pay off deficits faster, Towers Watson warns.

The proposed changes to pension input periods are "appallingly drafted" and will lead to further confusion over pension tax, experts have warned.

Proposed European Union plans to make scheme funding rules uniform across member states could force UK firms to pay off deficits faster, Towers Watson warns.