News

GREECE - Greek Prime Minister George Papandreou passed an overhaul of the pension system in a vote that tested the unity of his socialist government and prompted the second national strike in as many weeks.

The Financial Services Authority has fined Gateshead-based IFA N-Hanced £21,000 for exposing their customers to the risk of receiving poor advice about switching their pension.

The anti-avoidance regulations proposed by the government in the budget will increase the use of pension alternatives, providers say.

CANADA - The Canada Pension Plan Investment Board (CPPIB) has been criticised by environmentalists for investing C$250m (US$239) in an Alberta tar sands company.

The Universities Superannuation Scheme is set to switch to a Career Average Revalued Earnings (CARE) structure following a meeting of the Joint Negotiating Committee yesterday.

Concern that The Pension Regulator is ‘directing' rather than ‘guiding' through its guidance is increasing within the industry, participants say.

Mary Stewart warns of turbulent times ahead for SSAS if A-Day rule changes are not implemented

Bridge Trustees is considering taking a test GMP equalisation case to the European Court of Justice to clarify how the issue should be tackled, PP has learned.

Alliance Boots employees will be given extra time to reapply for a new defined contribution pension scheme after the firm refused to allow members to "reserve rights" as part of the joining process.

A "herd-like" move towards defined contribution and a further lowering of scheme quality levels in 2012 could lead to an almost "third-world" level of pension provision, Geoffrey Staines warns.