Legislation

The cost of implementing the new high earners' pension tax regime will spiral to £2.5bn - a figure seven times that originally estimated by the Treasury, Standard Life warns.

Seven-out-of-10 employers believe reducing pensions tax relief for higher earners will jeopardise pensions for the wider UK workforce, PricewaterhouseCoopers says.

NETHERLANDS - The main Dutch social partners have reached a common position on the fact that state and second pillar pension age should rise to 66 from 65 in 2020.

EUROPE/ITALY - The European Commission has issued a new request for Italy to move swiftly to equalise the retirement age for men and women.

EUROPE - The European Commission has launched a public consultation on a Green Paper looking at reforming corporate governance in financial institutions.

Failure to make resolution may lose schemes power to repay surplus funds

UK - The coalition government will take a "long hard look" at auto-enrolment and the delivery of NEST before deciding on its future, Steve Webb said.

Directors of FTSE350 companies will face annual re-elections as part of the Financial Reporting Council's clampdown on corporate governance.

SPAIN - The Spanish congress eked through a freeze on state pensions for 2011 by only one vote as the country implements a package of emergency measures to tackle its deficit.

FRANCE - President Nicolas Sarkozy's party Union pour un Mouvement Populaire (UMP) confirmed its plans to increase retirement age and the years of contribution needed to qualify for a pension in France.