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FIRMS are avoiding paying cash into pension schemes because they fear they will not be able to recover contributions if their fund goes into surplus, PricewaterhouseCoopers claims.

A pension saving survey by the Consumers' Association magazine Which? underlines the need for personal accounts, pensions reform minister James Purnell claims.

THE FINANCIAL Services Authority has fined Regency Investment Services £14,000 for income withdrawal failings.

Only a third of workers in the UK are saving for retirement compared with almost a half of Americans and three-quarters of people in Hong Kong, a new study shows.

SCHEME demand for bespoke defined contribution funds is on the rise, Fidelity International says.

RATINGS provider Standard & Poor's has teamed up with accounting firm Moore Stephens for the launch of a new covenant management service for trustees.

NORTHERN Trust Global Investments has hired Scottish Widows Investment Partnership to manage more than £150m of assets in its flagship UK equity fund.

ROYAL Mail's efforts to plug its £6.5bn pension deficit face an in-depth investigation from the European Commission.

Heart disease crisis

SCHEME wind-up victims will find it difficult to get extra compensation from the government despite a High Court judgement in their favour, lawyers warn.