September
2004
to
return to past news list click here
for
latest news click here
|
Tax
relief figures overblown by £3 billion
The Office for National Statistics (ONS) has released figures
showing that tax relief for all UK pension schemes has been
overstated by approximately £3 billion a year since 1999
|
30/09/04 |
Company
chiefs group calls for Pan-European pension
The European Union should create a pan-European pension
regime that can exist alongside existing structures rather than
embedding new rules in the national structures of all member
states, according to the European Financial Services Round Table
|
30/09/04 |
Finance
Directors scuppering company DC schemes
In a move to reduce company pension costs, finance directors
have taken control of defined contribution scheme finances and
in many cases attempt to impose strict limits on the number
of employees able to join, according to new research from the
Pensions Institute |
30/09/04 |
Get
heads out of sand says work and pensions minister
The current pensions challenge could become a pensions crisis
in 15 to 20 years if we fail to address the prospect of fewer
people in work supporting more people in retirement, said new
secretary of state for work and pensions Alan Johnson in his
speech at the Labour Party conference in Brighton |
29/09/04 |
KPMG
to appeal High Court ruling
Following a High Court ruling in July which decided that
KPMG’s pre-2000 pension fund should be operated as a defined
benefit scheme, the firm has announced that it will appeal against
the decision |
28/09/04 |
West
not the best for earlier retirement
Workers in Eastern Europe have more time to lie back with
a nice cup of tea in retirement than their counterparts in the
West, according to research from Mercer Human Resource Consulting
|
28/09/04 |
Public
confirms ABI calls for state pension reform
Reform of Britain’s state pension and benefits system
would motivate more people to invest their own money in pension
savings, according to the latest Pensions and Savings Index
from the Association of British Insurers |
27/09/04 |
Investment
managers driving forward transparency
Investment managers, rather than pension funds, are responsible
for driving forward transparency on transaction costs, according
to new research from Instinet Europe |
27/09/04 |
Standard
Life Investments to launch liability driven unit
Standard Life Investments has announced the creation of
a “Strategic Solutions Unit” (SSU) focusing on liability
driven and capital efficient investment solutions for institutional
investors |
27/09/04 |
A-day
guide from Bee
A detailed guide, which provides a framework for discussions
between advisers and their clients in the run-up to A-day, has
been produced by pensions provider Scottish Life |
16/09/04 |
Lib
Dem reforms could put pressure on businesses
The Liberal Democrats' plans for reforming pension provision,
which include fairer terms for women and establishing a kitemark
system for occupational pensions, have been met with mixed response
from the industry |
13/09/04 |
Pension
schemes not so short-termist apparently
Despite fund managers' claims that pension schemes are too
short-termist when it comes to manager selection, a new study
by the NAPF and the Investment Management Association (IMA)
has found that most fund managers retain mandates for over five
years |
13/09/04 |
Norwich
Union offers more
Norwich Union has significantly boosted its pensions investment
offering with the addition of 21 new funds, which will bring
its current offering to in excess of 50 funds |
13/09/04 |
Deadline
closes for Morris Review
Actuaries would be willing to compete if others could acquire
the appropriate skills and expertise in the post-Morris era,
The Actuarial Profession has stated |
10/09/04 |
PPI
adds voice to State Pension debate
The Pensions Policy Institute (PPI) has called on government
to begin the process of reforming State Pension provision, pointing
out that unwinding the current means-testing policy is a complex
process that should be done "sooner rather than later"
|
09/09/04 |
Smith's
replacement appointed
Following the surprise departure of Andrew Smith on 6 September,
Alan Johnson has been appointed to replace him in the role of
secretary of state for work and pensions |
09/09/04 |
Directors
continue "supping the pensions cream"
Despite calls last year from the CBI for bosses to "set
a good example", the heads of UK companies are receiving
pensions worth up to 50 times more than most of their staff,
according to the TUC's PensionsWatch report |
07/09/04 |
Andrew
Smith quits government
Secretary of state for work and pensions Andrew Smith resigned
from the government Monday evening, citing his reasons in a
letter to the Prime Minister as wanting to devote more time
to his constituency and family |
07/09/04 |
Small
DB schemes to face significant funding difficulties
Defined Benefit pension schemes with less than 50 members
are potentially at risk of significant funding difficulties
resulting from the Finance Act 2004, Independent Trustee Services
has cautioned |
06/09/04 |
Clerical
clarifies money laundering requirements
Clerical Medical has developed a dedicated area on its IFA
website to provide information and support on money laundering
requirements for financial advisers |
06/09/04 |
Majedie
reaches three quarters of a billion mark
Majedie Asset Management has announced that it has reached
£750 million of assets under management since its launch
in January 2003 |
06/09/04 |
Pension
petition goes online
The Pensions Action Group, which campaigns for the restoration
of pensions lost through scheme wind-ups, has started an online
petition |
04/09/04 |
SBJ
acquires Miller Financial Services
Insurance and consulting group SBJ Group Limited has acquired
the business of Miller Financial Services Limited for an undisclosed
sum |
03/09/04 |
ABI
tenders for independent monitoring company
The Association of British Insurers has announced that it
will tender for an independent monitoring company to enable
it to continue the monitoring of investment classifications
for life and pension funds |
02/09/04 |
FSA
cracks down on firms not meeting requirements
Work by the Financial Services Authority (FSA) over the
past year has resulted in more than 100 firms making remedial
changes to the way they operate to address serious failings
|
02/09/04 |
