KPMG

Pension funds and other UK investors missed out on more than £1bn last year by failing to reclaim withholding tax on foreign investments, according to tax reclamation experts.

UK - Imminent changes to accounting standard IAS19 could dent UK company profits by as much as £10bn ($16bn), KPMG warns.

Jonathan Stapleton looks at KPMG's 2011 Pensions Accounting Survey and discovers it paints a much rosier picture for UK schemes.

Imminent changes to accounting standard IAS19 could dent UK company profits by as much as £10bn, KPMG warns.

Jonathan Stapleton talks pensions accounting

The Pensions Regulator is to investigate how Silentnight's pension obligations were jettisoned when private equity firm HIG acquired the company after calling in administrators.

The move to CPI for pension indexation will reduce defined benefit liabilities by about £60bn by the end of the year, KPMG says.

The Hutton Report has been welcomed by the industry, which claims it could increase pensions for the low paid, but left unions warning of industrial action.

Tax relief on contracting out should be scrapped for all pension schemes by 2012, the Office of Tax Simplification recommends.

KPMG has launched a DC solutions practice and appointed pensions partner Gurmukh Hayre to lead the business.