UK - The pensions system cannot be reformed effectively unless it is removed from the political battlefield, the Pensions Management Institute claims.
President Roger Cobley said the Pensions Commission’s report demonstrated that many aspects of the UK pensions system were unsustainable.
He added: “Now is the time to sever the link between pensions and politics, as only then can people plan for the future with confidence.”
Meanwhile, former Labour and Conservative ministers have urged the government to ensure the Pensions Commission makes its recommendations before the next general election.
Labour backbencher Frank Field - a former welfare minister - said the second stage of the report should be brought forward to February so that all political parties could study the proposals and shape their election manifestos accordingly.
Former Tory chancellor Kenneth Clarke agreed.
“The government cannot put the report on the desk just before an election and say to the public: “We will decide our response to the report after the electioní.”
However, pensions minister Malcolm Wicks insisted the government would “not jump to rash conclusions before the commission has completed its work and published its report next year”.
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.