Legislation

The coalition government will scrap the default retirement age "as soon as possible", pensions minister Steve Webb says.

US - Democratic representatives and senators reached an agreement on a proposal to provide funding relief for pension plans and in some cases extend the smoothing period.

With a forthcoming European Commission consultation expected to put the spotlight on pensions legislation, Brian Holden calls for cosmetic system changes to be replaced by a ‘drastic upgrade' of governance

Cutting back public sector pensions would lead to an almost immediate £8bn cost to the taxpayer, the Chartered Institute of Public Finance and Accountancy says.

US - The French government is studying a combination of a longer working life and new taxes on high earners to stem losses in the country's pension system.

Geraldine Brassett of Mercer looks ahead to the advent of personal accounts and advises on how employers can meet the duties required by the new legislation

SPAIN - The Spanish government is set to freeze state pensions for 2011 as part of a package of measures aimed at reducing the country's ballooning deficit and send a positive signal to markets.

UK - The Conservatives and Liberal Democrats coalition deal could have heavy implications for policies on tax relief on pension scheme contributions.

US - BlackRock Inc. and the largest US business lobby groups are fighting to strike a provision in the regulatory-overhaul legislation that they say could harm millions of investors in retirement plans and pension funds.

NORWAY - Radical changes to laws governing defined benefit plans in Norway will be needed to adapt the schemes to the new old-age state pension, a commission tasked with examining the future of pensions in the country's private sector has concluded.