Legislation

The pensions industry is set to revolt over EU attempts to reignite the issue of solvency standards in pension schemes.

The launch of an independent commission to tackle the public sector pensions bill has been branded as an "opportunity missed" by members of a PP panel of experts.

Reducing the annual allowance to as little £30,000 could affect thousands of additional pension savers, consultants and advisers say.

The government will scrap the rule which creates an effective obligation to purchase an annuity by age 75.

The government is set to work with the industry on "alternative ways" to implement pension tax relief restrictions - and is considering reducing the annual allowance to as little as £30,000.

Chancellor George Osborne has confirmed the government will tackle the "spiralling" cost of public sector pensions.

David Cameron would face a £200,000 tax bill this year if his pension was subject to the same rules as the private sector, Hymans Robertson says.

Industry figures are rushing to lobby the government on crucial pensions issues ahead of tomorrow's emergency Budget.

UK - Former work and pensions secretary John Hutton has been appointed to lead an independent pensions commission to look at ways of reducing the costs of public sector pensions.

The government has established an independent commission to look at ways of reducing the costs of public sector pensions.