US - The Chicago Board of Education has claimed the state is acting unconstitutionally in contributing more into the statewide Teachers' Retirement System, compared to the Chicago teachers pension fund.
According to reports, Chicago received US$75m of contributions from the state into its pension fund last year, compared to the Teachers' Retirement System which received $738m of contributions.
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.