News

The government has promised it will only implement changes to tax legislation retrospectively in "wholly exceptional circumstances", after concerns were raised that it could damage the UK's reputation.

Members of the Prison Officers Association have voted against the final government offer of changes to the Principal Civil Service Pension Scheme, objecting to the linking of the retirement age to the state pension age.

Macfarlane Group has introduced a pension increase exchange option for active and deferred members after reducing pensioner liabilities by 35% through a similar exercise.

Enhanced annuity sales exceeded £1bn in the second quarter of 2012, according to research by Towers Watson.

Investment consultancy firm Redington has recruited Patrick O'Sullivan as a new vice-president.

A record £18.5bn worth of liability hedging transactions were completed in the second quarter of 2012 according to research from F&C.

Ian Treece has joined Capita's employee benefits consultancy, having previously held the associate director role for the pension fund at Barclays.

Barclays has appointed Antony Jenkins, its former head of retail and business banking, as its new boss.

A third of infrastructure investors believe the government will fail to attract pension fund investment for ambitious projects such as an overhaul of British roads, a survey reveals.

Labour front benchers have urged the government to work with the opposition, business and trade unions to protect British interests from planned European regulation of the pensions and insurance industries.