UK - The Pensions Bill lacks substance and detail, Conservative work and pensions spokesman David Willetts says.
Willetts likened work and pensions secretary Andrew Smith to “an ill-organised teenager who knows the exam has been due for years, but is still in a panic when he realises he has to sit the test in a few days’ time”.
He added: “There is much on administrative mechanisms, but little on the choices any government has to make in tackling a crisis as serious as we now face.”
But Smith dismissed the criticism and said the Bill was an important step forward in security and confidence in pensions.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.