UK - Tax simplification could be derailed by the National Audit Office's report that the £1.4m limit will affect double the government's estimate, Mercer fears.
Chancellor Gordon Brown – who commissioned the NAO to look at the £1.4m limit in December – “threatened” to scrap tax simplification unless the industry agreed to the limit.
The government estimates that 5000 people will be affected by the £1.4m limit.
Mercer worldwide partner Paul Greenwood said: “If Brown really wants to drop the proposals, they’ve left him with room to manoeuvre. But we really don’t think that 5000 or 10,000 is significant in terms of the number of people employed in the UK.”
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.