Government

CANADA - The Canadian government has proposed shelving certain investment restrictions currently imposed on private pension plans.

Concerns over public sector pensions were ignored during the three party leader debates ahead of the election, Axa says.

Lack of political policy on personal finance sustainability so far has been ‘inexcusable', Fidelity International says.

The general election is likely to result in a hung parliament and the markets face a "corridor of uncertainty" as the parties negotiate the terms of a coalition government, Schroders says.

High earners who contribute 15% of salary to a pension could be £18,000 a year worse off following the raft of tax changes introduced by the government, Punter Southall warns.

Retirees aged below the new minimum pension age of 55 and in drawdown could face adverse tax charges if they want to annuitise or switch provider, Scottish Life warns.

Barbara Judge has been named as the next chairman of the Pension Protection Fund.

UK - Barbara Judge has been named as the next chairman of the Pension Protection Fund (PPF).

Last week, the department for work and pensions published a note for employers detailing the risk-sharing options available under current legislation.

US - Close to US$14bn of contributions will need to be paid into the pension funds of General Motors and Chrysler within the next five years, according to estimates from the Government Accountability Office (GAO).