UK/US - The US Senate is set to hold a public hearing on an international treaty that will harmonise tax relief between British and American pension funds.
The document – which is being consulted on this week – is intended to allow employees transferred between the US and UK to remain in their home country pension arrangement without suffering adverse tax consequences.
But ratification of the UK/US tax treaty was expected before the end of 2002 and a number of concerns have been raised by pension funds over the delay.
Hammond Suddards Edge solicitor Frances Phillips-Taft said that once the treaty has been ratified by both parties it will come into effect in the US on the following January 1 after ratification and in the UK on April 6 following ratification.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.