UK - Trinity Mirror has announced a £175m (US$350m) share buy-back scheme which will return capital to shareholders as part of the group's large scale reorganisation of its business.
A spokesperson for the Pensions Regulator said the clearance process was often a formality whereby parties seek reassurance that the regulator would not seek to use its powers against them in the future. Due to the sensitive nature of the proceedings, the regulator could not offer any more specific details.
Changes to pension plans across the media have been attracting attention recently. Last Thursday, in a Parliamentary Early Day Motion, Austin Mitchell, MP (Labour) for Grimsby, criticised publisher and distributor Newsquest for undermining the integrity of its pension scheme by forcing the savings burden onto its 9,000 members despite posting a profit of over £120m (US$240m) last year. The motion was supported by a cross-party group of 30 MPs.
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
Alan Pickering says politicians should have the freedom to redefine what is meant by 'absolute'