CANADA - A dozen schools have yet to ratify a deal agreed between the Alberta Teacher's Association (ATA) and the provincial government in order to cover a CAN$4.6bn liability in the Teacher's Pension Plan.
While the majority of teacher bodies have accepted the agreement, members of the School Board Employer Bargaining Association (SBEBA) have dragged their feet, prompting the ATA to express concern the deadline may not be met.
Negotiators are understood to be frantically trying to reach an agreement with the remaining schools within the next few weeks.
As Global Pensions reported in November, ratification of the MOU would put the responsibility on the state to fund liabilities dated before 1992. It would also see the 3.1% contribution to the underfunding paid from current teachers' salaries abolished and entail a division of the Teachers' Pension Plan into two funds after September 2009.
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.