News

The Financial Services Authority has issued a warning to consumers over pension reciprocation plans and other pension unlocking schemes.

The Department for Work and Pensions has launched a consultation to extend the rules of the Financial Assistance Scheme to insure schemes exempt from the Pension Protection Fund.

NETHERLANDS - The Dutch government will increase the retirement age, provide more flexibility around retirement and suspend contribution holidays in a new deal with employer and employee unions.

UK - The Royal Mail's £10.3bn ($16.8bn) pensions deficit will be taken on by the tax-payer next spring as legislation to privatise the service is expected to become law next week.

Financial Services Authority guidance on incentive exercises such as ETVs needs to be strengthened and made a legal requirement, Aon Hewitt believes.

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

The Royal Mail's £10.3bn pensions deficit will be taken on by the tax-payer next spring as legislation to privatise the service is expected to become law next week.

UK - Standard Life has appointed Paul Matthews as chief executive of its UK business.

EUROPE - Tension between the European Central Bank and the German government has intensified as Jean-Claude Trichet hit back at the German finance minister's claims Greek government bondholders should contribute to a new aid programme.

US - New York State Governor Andrew Cuomo has introduced pension reform legislation that would impose a new Tier VI for future employees and save taxpayers $93bn over the next 30 years.