Legislation

The House of Commons has approved an order to move from RPI to CPI index linking for public sector, state additional and occupational pensions.

MPs have been urged to vote down government plans which would reduce the value of pensions year on year in a crucial House of Commons vote today.

Government failure to reveal plans for a £140 universal state pension has weakened the coalition's Pensions Bill, leaving it like "Hamlet without the prince", Baroness Hollis says.

Switching to consumer price index for pension inflation will improve defined benefit scheme funding levels by £83bn - but reduce the value of members' pensions, the government says.

MPs have accused pensions minister Steve Webb of backtracking on the coalition agreement's terms on increasing the women's state pension age.

Pension funds could face thousands of pounds in administration costs due to new laws designed to take the sting out pension tax saving changes, PwC warns.

Changes to pay-as-you-earn rules may see enhanced transfer value exercises for deferred members attracting significantly more tax, an industry body warns.

Scheme managers are split over whether the government should have given pension funds the power to override scheme rules enabling a shift from RPI to CPI indexation where it is not already allowed.

GREECE - Greek telecom operator Hellenic Telecommunications Organisation (OTE) has said it will have to book a €129.8m ($179m) pensions cost charge to its 2010 accounts following an actuarial study by the Greek government.

Plans to introduce a universal state pension could be held back until 2014 to give the coalition government a boost at the next general election, a policy expert says.