News

Employers should consider warning higher-paid employees considering contribution variations they could face "severe" tax penalties, Watson Wyatt says.

US - The Indiana Treasurer has appealed to the US Supreme Court in its last attempt to block the sale of Chrysler assets on the ground the pension funds it represents are being discriminated as creditors.

Purnell: Brown must go; Lloyds faces pension demand; Morrisons becomes latest company to downgrade pension scheme; BA won't rule out pension closure

West Yorkshire Pension Fund head of pensions and investment Stuart Imeson will retire in the autumn, the scheme confirms.

Yvette Cooper - the former chief secretary to the treasury - has been appointed as work and pensions secretary to replace James Purnell, who resigned late yesterday evening.

Morrisons is set to close its final defined benefit pension scheme to future accruals.

US - The Delphi Salaried Employees Association (DSEA) is considering taking legal action to oppose this week's ruling determining its affiliates' pension fund will be assumed by the Pension Benefit Guaranty Corporation (PBGC).

Fiduciary management can help trustees deal with increasing investment complexity but has three key limitations, speakers at a Law Debenture pensions debate said.

UK members of the European Parliament will be entitled to a bigger pension than their Westminster colleagues, calculations by Open Europe reveal.

UK - Barclays is set to close its final salary scheme to future accruals as part of a review of its pension arrangements.