News

UK - Proposals to index private sector pension increases to the Consumer Price Index amount to a "stealth cut" on the average worker's retirement pot, unions have claimed.

Xafinity has bought PricewaterhouseCoopers' scheme actuary, pensions administration and investment consulting business for an undisclosed sum.

UK - Xafinity has bought PricewaterhouseCoopers' scheme actuary, pensions administration and investment consulting business for an undisclosed sum.

Enabling people to work one more year after state pension age could result in a GDP increase of 1% or £13bn says Legal & General wealth policy director Adrian Boulding.

The government is set to index private sector pension increases to the Consumer Price Index in a move that could cut £100bn from scheme liabilities.

UK/CANADA - The UK's Pensions Regulator has issued a Financial Support Direction against companies in the Canada-based Nortel grou,p requiring them to provide support for the UK scheme, which had a £2.1bn (US$3.1bn) shortfall on a buyout basis.

EUROPE - The European Commission is considering an EU-wide safety net for pension schemes similar to the UK's Pension Protection Fund (PPF).

European Commission proposals for an adjusted version of Solvency II standards for pension schemes could cost Britain £500bn if they are implemented, the Confederation for British Industry warns.

UK - European Commission proposals for an adjusted version of Solvency II standards for pension schemes could cost Britain £500bn if they are implemented, the Confederation for British Industry has warned.

The Pensions Regulator has issued a Financial Support Direction against companies in the Nortel group requiring them to provide support for the UK scheme, which had a £2.1bn shortfall on a buyout basis.