News

UK - Rebuilding confidence in pensions must remain a priority for 2009, the National Association of Pension Funds urges.

UK - A move in this week's Budget to scrap higher rate tax relief on pension contributions would be "entirely wrong" and "a direct attack on middle Britain", the Association of British Insurers says.

The Government should provide help to companies struggling under the weight of falling funding ratios, Punter Southall says.

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The Pensions Regulator is enabling the option for DB schemes to renegotiate recovery plans to repair scheme deficits, says the regulator in its reviewed Corporate Plan 2009-2012.

A board of trustees must repay more than half a million pounds plus interest after the pensions ombudsman ruled they had breached their investment duties.

EUROPE - The European Parliament (EP) Budgetary Committee has voted against a bailout of the troubled pension scheme for members of the EP (MEP).

The £30bn Universities Superannuation Scheme has described proposals by the Pension Protection Fund to consider investment risk when calculating levies as "a tax on good schemes".

Liberal Democrat MEP Chris Davies opposes a bailout of the voluntary pension scheme for members of the European Parliament.

Trustees should approach upcoming funding negotiations with cash-strapped employers more commercially, a consultant claims.