George Osborne

Jonathan Stapleton analyses changes in UK pensions legislation heralded by its emergency Budget in June and the series of announcements surrounding it

Government proposals to increase the retirement age and index pension payments to the Consumer Price Index could slice 15% from public sector liabilities, London Pensions Fund Authority chief executive Mike Taylor says.

The industry collectively breathed a sigh of relief when the youngest Chancellor in more than a century told the House of Commons he would work with them to avoid taking the red road towards curbing pension tax relief for high earners.

The industry has unanimously backed George Osborne's emergency Budget promise to investigate alternatives to the introduction of pension tax relief restrictions for high earners.

UK - Former work and pensions secretary John Hutton has been appointed to lead an independent pensions commission to look at ways of reducing the costs of public sector pensions.

The government has established an independent commission to look at ways of reducing the costs of public sector pensions.

The Chancellor must abandon planned cuts to pension tax relief for high earners in the emergency Budget, the National Association of Pension Funds says.

UK - Chancellor George Osborne must abandon planned cuts to pension tax relief for high earners in the emergency Budget, the National Association of Pension Funds says.

George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.

UK - George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.