Regulation

EUROPE - The cost of an ageing population in Europe is expected to "dwarf" the impact of the current financial crisis many times over, a European Commission report revealed.

The cost of an ageing population in Europe is expected to "dwarf" the impact of the current financial crisis many times over, a European Commission report reveals.

Freedom SIPP, owned by high-profile pensions lawyer John Quarrell, has been wound up by the High Court for non-payment of tax.

AUSTRALIA - The Australian government will mull increasing the mandatory contribution rate from the current level of 9%.

The Pensions Regulator has reviewed and changed the information used in the valuation summary form to make it easier to review recovery plans.

US - New York state comptroller Thomas DiNapoli will have some company as he leads the state's US$116bn pension fund if a new legislation calling for the abolition of the single-trustee model is passed.

The management team at The Pensions Advisory Service is to be cut back after a Deloitte review identified corporate governance issues at the body.

US - Two more people pled guilty in the ongoing investigation relating to a pay-to-play scheme at the New York State Common Retirement Fund (CRF), New York state attorney general Andrew Cuomo announced yesterday.

The Accountancy and Actuarial Discipline Board has launched a probe into the conduct of an actuary in connection with Equitable Life.

UK - Conservative Party plans to accelerate the increase in the state retirement age have been backed by senior industry figures.