Legislation

Employers are being warned there are only 90 days left before changes to pensions taxation are implemented on 6 April.

Trustees might have run out of time to notify members and sponsoring employers of allowing future surplus payments to employers under section 251, lawyers say.

An unsecured pension holder aged over 50 but not yet 55 can purchase a lifetime annuity or scheme pension without incurring an unauthorised tax charge, the Treasury says.

UK - Public sector final salary schemes should be scrapped and replaced with a career average alternative, the National Association of Pensions Funds says.

SPAIN - Spain's pension overhaul will be "as ambitious" as the government's initial proposal, which included an increase in the retirement age, Prime Minister Jose Luis Rodriguez Zapatero has said.

Public sector final salary schemes should be scrapped and replaced with a career average alternative, the National Association of Pensions Funds says.

Nearly a quarter of UK businesses have not yet considered the implications of auto-enrolment on their schemes, Aon Hewitt research reveals.

US - A lobbyist for the California Public Employees' Retirement System has promised a "major fight" over congressional Republican legislation to force wider disclosures from state and city pension funds.

More than 100 British veterans living abroad have signed a petition against their pensions being frozen and some are threatening to hand back their medals in protest.

The High Court ruling granting trustees ‘super priority' in obligations arising from a financial support direction against insolvent companies "desperately cries out for legislative intervention", lawyers say.