UK - The Confederation of British Industry has denied national newspaper reports that it backs compulsory pension contributions.
Director-general Digby Jones was reported as giving a “guarded, cautious” thumbs up to compulsion, provided the Chancellor offered tax incentives in return.
But a CBI spokesman said the organisation had not changed its staunch opposition to compulsion.
He added: “We reject compulsion completely, because of the additional costs.”
The spokesman explained that the problems surrounding pensions related to the “increased financial risk for companies providing pensions such as equities and changing demographics”.
He said: “The answer to that problem must be to do with incentivising companies to provide pensions, making it cheaper and easier to provide pensions.”
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.