November
2003
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Pension
Protection Fund welcomed with reservations
A new Pensions Bill announced in the Queen's speech, which
confirmed the government's intention of establishing a Pension
Protection Fund (PPF), was welcomed by the industry, but with
concerns over its viability |
28/11/03 |
ACA
stresses need to raise lifetime limit
The government must address the shortcomings relating to
the £1.4 million lifetime tax relief limit on pensions
or face the consequences, the Association of Consulting Actuaries
(ACA) has warned |
27/11/03 |
Compulsory
savings is the future of pensions
The Consumer Association (CA) has called for a new pensions'
regulatory environment consisting of a two tier system that
can access collective investment funds while making pension
saving compulsory |
25/11/03 |
Custody
ratings boost for NCS Europe
National Custodian Services (NCS) Europe, a division of
National Australia Bank, has been awarded a AA- rating for its
global custody services by specialist custody rating firm, Thomas
Murray |
25/11/03 |
Suggested
reforms seek to end pensioner poverty
The Centre for Policy Studies (CPS) has published a new
paper which outlines suggested reforms to the state pension
system which its author says would end the "morally unacceptable"
situation in which many people currently find themselves in
retiremen |
24/11/03 |
Manager
of manger route opened to DC schemes
The manager of manager approach, growing in popularity among
defined benefit (DB) schemes, has been opened out to the defined
contribution (DC) market with the launch of a new initiative
from pension provider, Prudential |
24/11/03 |
Young
Asian bull market set to charge ahead
Asia's bull market cycle is in its infancy and could run
for the next three to five years, according to Credit Suisse
Asset Management |
24/11/03 |
Group
transfers made simple
Scottish Equitable has launched a “direct offer”
facility which aims to simplify transfers of Group Personal
Pensions and Group Stakeholder schemes |
24/11/03 |
Friends
Provident confirms direct sales closure
Friends Provident has confirmed the closure of its direct
sales operation, following a review of its distribution strategy
|
24/11/03 |
No
end in sight for new member DB closure
The number of companies closing their final salary pension
schemes has continued to increase, according to the National
Association of Pension Funds' (NAPF) annual survey |
24/11/03 |
Employers
on pension holiday despite crisis
Despite the current pension crisis, employers continue to
take pension holidays to the tune of over a billion pounds,
according to new figures from the Trade Unions Congress |
17/11/03 |
Not
shopping for annuities causes loss of millions
Failure to shop around when purchasing an annuity will result
in a collective loss of £345 million in annual income
for pensioners, according to Close Wealth Management |
17/11/03 |
Awareness
soars while employer trust withers
Pensions awareness among employees has improved considerably
in the last year, according to a recent survey conducted by
Aon Consulting |
14/11/03 |
Benefits
are there but no one is talking about them
Due largely to poor communication, many employees do not
understand or value the benefits their employers provide for
them, according to new research from Chase de Vere Employee
Benefits |
13/11/03 |
Voracious
Chinese hunger may reverse commodities trend
China's demand for commodities is revolutionising global
commodity markets, according to the Natural Resources Team at
Merrill Lynch Investment Managers |
12/11/03 |
Task
force seeks new members from pensions industry
The Better Regulation Task Force (BRTF), an independent
advisory body sponsored by the Cabinet Office, is on the lookout
for new members from the pensions industry |
12/11/03 |
Accounting
made easier for smaller pensions
A pensions accounting package aimed at small to medium pension
schemes has been launched by software services house, Euraplan
|
11/11/03 |
Pension
Credit figures positive
Around 1.4m pensioners are better off as a result of the
new Pension Credit, which was introduced to replace the Minimum
Income Guarantee last month |
11/11/03 |
Maersk
Company turnaround
A major development in the controversial Maersk case took
place this week when the company took the decision to meet its
pension obligations in full in relation to the Sea-Land Services
Inc. Pension Plan, presently in wind-up |
11/11/03 |
Hopes
raised for ex-pat pensioners
Annette Carson, the South-Africa based UK pensioner who
has been fighting for the State pension rights of expatriates,
has been granted leave to take her appeal to the House of Lords
|
10/11/03 |
BRS
closes to new business
Britannic Retirement Solutions (BRS) has closed its door
to new business after efforts to find a buyer proved unsuccessful
|
10/11/03 |
Working
past 65 causes career re-think
Britons are prepared to work past 65 but many are considering
changing careers so as not to be stuck in the same unfulfilling
job into their twilight years, according to a new survey by
Clerical Medical |
10/11/03 |
Financial
Services and Markets Act to undergo review
The financial secretary Ruth Kelly has announced the scope
of a review to be carried out of the Financial Services and
Markets Act 2000 (FSMA), following its first two years of operation
|
04/11/03 |
Smaller
companies not adhering to Combined Code
Though the new Combined Code came into effect on 1 November,
many of the UK's smaller companies have not yet taken adequate
steps to adhere to it, according to new research from WJB Chiltern
|
04/11/03 |
Unions
launch pensions battle against government
Unions ISTC and Amicus have launched legal action to reinstate
the pensions of workers who's benefits were lost when their
companies folded last year |
03/11/03 |
Education
is key to ending misselling
Education is regarded as more important than tighter regulation
in reducing misselling, according to a research conducted by
Huntswood Outsourcing Solutions |
03/11/03 |
