News

IRELAND - The Irish government has agreed to issue new bonds and sovereign annuities in line with proposals put forward by the Irish Association of Pension Funds and the Society of Actuaries in Ireland.

The government has calculated the move from RPI to CPI indexation for occupational schemes could reduce the value of pension rights by as much as £76.6bn over 15 years.

Steve Webb has said the government will not give private sector schemes the power to override scheme rules to shift from RPI to CPI indexation.

Fury over bid to cut pension payments by 25pc; Pension funds tied to inflation link; Pensioners forced to turn hobbies into jobs; BBC pensions dispute settled

The Association of British Insurers has slammed a report attacking UK pension charges by leading scheme manager David Pitt Watson as "misleading" and "false".

Changes to longevity assumptions for the latest round of triennial valuations have sent defined benefit scheme liabilities soaring by £50bn, longevity experts say.

The government is expected to announce draft pensions tax legislation tomorrow as part of the 2011 Finance Bill.

US - Deficits in S&P 1500 company pension plans fell by $14bn to $359bn at the end of November, new figures from Mercer show.

Telehouse has appointed Goddard Perry Consulting to service its £3.5m group personal pension plan.

US - Tax payer contributions to New York State public pensions will "explode" in the next five years, forcing the state to divert resources from other services to meet the obligation, a new study has warned.