US - Contributions to the Arizona State Retirement System (ASRS) will increase by 0.5% to 9.6% as of July 2007.
The decision was announced following the system's annual actuarial analysis. The rise will affect both employees and employers since the ASRS pension plan was a contribution match plan.
The ASRS board said the overall increase was primarily due to past improvements to the benefit package, low historic contribution rates, lower mid-term investment returns, and changing member demographics.
The board added that improved investment performance over the past two years had helped mitigate larger increases in the contribution rate.
Projections showed the rate will continue to increase slightly over the next several years, peaking at about 10% in 2012 and then beginning a slight downward trend.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.