Regulation

IRELAND - Ireland's defined-benefit pension schemes risk closure because they cannot meet the "draconian" minimum funding standard set by the Pensions Board, employers claim.

The Pensions Regulator's ability to enforce its financial support direction against six Lehman Brothers subsidiaries is questionable due to ongoing insolvency proceedings, lawyers say.

The Pensions Regulator's determinations panel has ruled six subsidiaries in the Lehman Brothers group should provide financial support to the pension scheme.

FRANCE - A bid by French president Nicolas Sarkozy to raise the official retirement age from 60 to 62 by 2018 has been approved by the lower house of parliament.

US - Governor Chris Christie has unveiled a proposed series of cuts across state pensions as he tries to shore up a deficit that sits at $46bn, and growing.

PricewaterhouseCoopers has been forced to undertake an exhaustive review of its client base after the Financial Reporting Council discovered it was acting as auditor to a company while providing actuarial services to its defined benefit pension scheme....

David Norgrove's replacement at The Pensions Regulator will be paid £53,000 less than the outgoing chairman.

The trustees of the £20bn Royal Mail Pension Plan have tabled a 38-year deficit reduction plan to The Pensions Regulator, the Hooper report reveals.

The Pensions Management Institute has issued a survey to its membership requesting views on The Pension Regulator's consultation on enhanced transfer value exercises.

The industry urgently needs a decision on pension tax relief restrictions, the Association of Consulting Actuaries warns.