UK - Pensioners will gain on average £400 a year from the Pension Credit Bill when it is introduced in October 2003, the Department for Work and Pensions claims.
The Bill will guarantee a minimum income of £100 for single pensioners and £154 a week for couples.
Single pensioners with a second pension or “modest” savings will receive an extra £13.80, while couples will get an extra £18.60 a week.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.