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%.”
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.