UK - Oil giant Ineos has ended months of staff unrest by agreeing a revised set of pension changes with trade union Unite.
But after a series of talks between union officials and employers, staff have agreed to new proposals which will see the final salary scheme stay open to new employees while existing members will now contribute 2% of salary.
A spokesman for Unite said: "Unite and INEOS have reached an agreement on the company pension scheme. Following nine months of discussion between the union and the company, it has been agreed that the members will contribute to the pension scheme and the benefits will be maintained.
"The crucial issue of new starters being permitted entry into the scheme has been resolved, with agreement that new starters will be allowed entry into the scheme."
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.