IRELAND - The government has decided to leave unchanged current provisions on public pensions' indexation, despite having announced in this year's budget current arrangements were under review and could be amended.
Minister for Finance Brian Lenihan announced in the budget for 2010 he was considering linking public service pensions to increases in the cost of living.
But in a document issued yesterday, the government clarified it does not intend to proceed with changing the status quo, before talks with trade unions on public servants pay and pensions take place in spring 2011.
Under the current system, pension increases for retired public servants are based on salary increases granted to public servants in service, who occupy the same position pensioners held when they retired.
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how