UK - Multinational companies can save money by having a centralised approach to pensions, says Watson Wyatt.
The consultant surveyed 42 multinational companies responsible for 1877 international pension plans with combined assets of $480bn (£305bn) and found firms which co-ordinated a pensions policy centrally had lower costs.
The survey revealed that 13% of multinational firms described their plans as centralised, 30% as uncentralised and the remaining 57% somewhere in-between.
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.