News

Higher rate tax relief on pensions is "costly and ineffective" and should be scrapped, argues academic Michael Johnson.

The Financial Services Authority is investigating State Street over allegations it overcharged some of the UK's biggest pension schemes according to the Financial Times.

The 4imprint Group Pension Scheme has entered a buy-in with Pension Corporation to cover approximately £25m of legacy pension liabilities.

Excessive risk in UK pension schemes could lead to a wave of company defaults once the economy recovers, according to Towers Watson.

The pensions industry has welcomed the Department for Work and Pensions report ‘Reinvigorating workplace pensions', but highlighted that more work must be done.

The Pension Protection Fund has appointed seven fund managers to look after its farmland and timberland portfolio.

Companies could establish defined benefit schemes which are not indexed by inflation, under government proposals.

The Department for Work and Pensions will work with the Treasury, the industry and the Money Advice Service to create a standardised ‘lifecycle' of pensions communications to send to individuals.

1. All participants in the equity investment chain should act according to the principles of stewardship, based on respect for those whose funds are invested or managed, and trust in those by whom the funds are invested or managed.

The government has endorsed the findings of the Kay review which called for a major change of attitude from pension funds to combat short-termism in financial markets.