UK - Tories and Liberal Democrats have blamed Labour for Britain's pension crisis and claim the government's policy is now in "meltdown".
They hit out after research by Lane, Clark & Peacock showed Britain’s top 100 firms hold a combined pensions shortfall of £55bn.
LibDem pensions policy spokesman Lord Oakeshott said: “We face a collapse of confidence in saving for private pensions.
“This is doubly damaging for millions who will be forced to fall back on Britain’s shameful basic state pension – the worst in western Europe.”
The Conservatives agreed and said the government’s decision to abolish advance corporation tax rebates on share income was to blame for the crisis schemes were facing.
They pointed out that the abolition of ACT was costing schemes £5bn a year – a total of £55bn so far, identical to LCP’s estimate of the top companies’ combined pensions deficits.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.