UK - Consultants are urging the government to amend scheme wind-up buyout rules to give trustees the flexibility to use non index-linked assets when purchasing annuities.
They believe government action is needed to help the insurance market cope with a large influx of wind-ups over the coming months.
Current wind-up regulations mean that deferred annuities must be bought with bonds that match UK inflation rates.
But the market for inflation-linked gilts is drying up and industry experts have already warned that if a larger scheme went into wind-up it would use all the capacity that is left.
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.
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