UK - The Lothian Pension Fund has become one of the lead plaintiffs in a class action lawsuit accusing BP of destroying shareholder value.
They claimed this was due to cost cutting and led to the company's share value falling by £4.
In March, the fund joined a class action suit against telecommunications giant, Ericsson, claiming it had made false statements about its financial health (see Globalpensions.com; 10 March 2008).
A spokesman for the fund said there had been no further movement in this case.
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.