Legislation

Stuart Russell discusses legislative changes affecting how retirement income can be taken

HUNGARY - Hungary's parliament has approved the suspension of social security payment transfers to private pension funds as the government seeks to meet a deficit goal approved by the nation's creditors.

UK - Coalition plans to introduce a universal state pension of £140 a week need serious investigation to assess whether they are fair and affordable, the Labour Party warns.

Coalition plans to introduce a universal state pension of £140 a week need serious investigation to assess whether they are fair and affordable, the Labour Party warns.

The government has lost its long running court battle over its obligations to fund the BT Pension Scheme deficit should it go bust.

UK - The state pension age will reach 66 by 2020, as part of the Spending Review.

IRELAND - The Pensions Board has prosecuted a trustee board for failing to submit an actuarial funding certificate.

LV= is calling for legislation to be drafted, allowing for transfers from defined benefit to defined contribution schemes to continue after 6 April 2012.

Trustees now have a further five years to act on legal requirements under section 251 of the Pensions Act 2004, the department for work and pensions confirms.

UK - The government has announced it will set up a new public Royal Mail pension scheme - the liabilities of which are to be met by the taxpayer.