UK - The pensions industry needs a single, standard basis for calculating debt, according to Hazell Carr Pensions Consulting.
Director Kenneth Donaldson told delegates that relying on individual scheme funding standards is “untenable”.
He said: “I cannot help but think of DB occupational pension schemes as little mutual insurance companies, and as such, they should be subject to insurance company-type insolvency standards.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.