Legislation

ROMANIA - Romania's parliament has approved changes to the national pension system in order to qualify for a €900m ($1.2bn) loan from the International Monetary Fund.

Government must press ahead with the 2012 reforms or risk a crisis of undersaving, the Confederation of British Industry says.

The government should take responsibility for the Royal Mail's £8bn pension deficit, Richard Hooper says.

Treasury proposals to remove the requirement to annuities by age 75 will only benefit "those who need them the least", the industry warns.

Retirement solutions should have the flexibility to provide decent pensions and meet long-term care costs if necessary, the Association of Consulting Actuaries says

Amended legislation bringing the UK into line with Europe means trustees must monitor all collective investments to adhere to strict sponsor investment rules.

The complex web of regulations governing the 2012 pension reform package poses a threat to businesses and the creation of new jobs, the British Chambers of Commerce warns.

Equitable Life has urged the government to honour the Parliamentary Ombudsman's recommendation to make fair payments to policyholders.

UK - Gordon Brown has been accused of attempting to blackmail Tony Blair to drop Adair Turner's revolutionary pension reform proposals.

The Local Government Pension Scheme should increase its retirement age to 66 and limit pensionable pay to £75,000 a year, the London Pensions Fund Authority says in its submission to the Public Service Pensions Commission.