News

WATSON Wyatt has boosted its settlement solutions team with the appointment of Robert Fitzsimmons as a consulting programme manager.

A Society of Pension Consultants idea which could see employers reducing contributions with The Pensions Regulator's permission may be out of the body's remit, HamishWilson says.

ALMOST 70pc of employees believe they will take up auto-enrolment into an occupational pension from 2012, government research claims.

PPF calm in face of growing asset shortfall; UK's PPF can cope with turmoil-pensions minister; Pension deficit of £155bn isn't so bad, but we will be forced to work longer; Over-85s are fastest growing age group

US - Law firm Howard G. Smith is investigating claims against American Express Company for potential violations of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

US - The government has been urged to provide immediate relief to sponsors of corporate pension plans in a letter by the biggest pension consultants in the US - who warn the future stability of defined benefit plans is at risk without action.

HIGHER earners could see pension tax benefits slashed by 37.5pc when pre-budget report proposals to introduce a 45pc rate are implemented in 2011, HFM Columbus claims.

GLOBAL - Investment giant UBS has closed its transition management business in Europe as the credit crisis continues to bite, Global Pensions can reveal.

AUSTRALIA - Proposed reforms to the calculation of employer superannuation contributions for income test purposes are too complex and will leave both employers and employees worse off, Mercer says.

EUROPE - Governments need to do more to help the aging society, which will require large scale changes to existing social security systems, European politicians, academics and industry representatives have said.