UK - The Liberal Democrats have attacked the government for "standing by" while firms close DB schemes to new members.
Liberal pensions spokesman Matthew Oakeshott urged the government to act quickly to quell the rising tide of pension fund closure.
He said: “In my 26 years as a pension fund investment manager I cannot remember people being so fearful and cynical about their pension prospects.
“Too many short-sighted employers are running a race to the bottom in pension provision, by replacing high quality final salary schemes by money purchase schemes, with average contributions of only 5.1%.”
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.