NPC castigates cross-party retirement plans
The National Pensioners Convention has criticised the approach of both the government and opposition to rethinking the default retirement age.
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Labour pledges to secure free care for elderly in Queen’s speech
The Labour party has vowed to “find a way” to provide free care for the elderly through legislation announced in the Queen’s speech in November.
New legislation will be put forward to provide care for the estimated 280,000 elderly and disabled people with the most serious needs.
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Industry braced for PBR tax hit
Many of the most vocal within the pensions industry are calling for the reinstatement of tax relief for higher earners, but some fear tax hikes in this month’s pre-Budget report (PBR).
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IFAs wary of Tory RDR plans
The retail distribution review (RDR) will go ahead under a Conservative government, but concerns still remain about the party’s proposals, according to a survey of advisers.
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Cooper: claims the tax relief changes will save £6bn |
Cooper defends ditching higher rate tax relief
Yvette Cooper has dismissed the arguments against the removal of higher-rate tax relief on pensions contributions as “implausible”.
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Cameron: MPs must set an example to the public sector |
Cameron vows to shut MPs’ scheme
Conservative leader states he will close ministers’ final salary scheme to new members upon election to kickstart public sector pensions reform
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Looking ahead to 2010
As the conference season reaches full swing, political parties have been laying out the major issues facing the pensions industry ahead of next year’s general election.
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Myners: one size does not fit all |
Myners voices concerns over blanket directive
Lord Myners has urged pension funds and other institutional investors to lobby for amendments to a controversial proposal for European Union (EU) legislation.
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Solvency II rules face industry concerns
New European Union rules on capital requirements for insurers will pose challenges to buyout and annuity providers and could have a lasting impact on UK retirees, according to industry feedback.
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Hargreaves: recommendations from RDR will get watered down |
Standards set by RDR will be detrimental, say advisers
More than a third of financial advisers believe the retail distribution review (RDR) will have a negative impact on their business, according to a PM and YouGov poll.
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MPs’ scheme under review
A consultation on the future of the Parliamentary Contributory Pension Fund has been launched by the Senior Salaries Review Body (SSRB).
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Policy Exchange calls for scheme funding body
A centre-right think-tank has proposed that a new body be set up to pay the pensions of employees in unfunded public sector schemes.
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The cloud over MPs’ expenses could get darker yet |
MP pay rises will stoke sector wars
Moves to increase MPs’ salaries could also boost their pension scheme liabilities, causing more friction between private and public sector workers
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ECJ: enforced retirement at 65 possible
Forcing employees to retire at age 65 can by justified “in principle”, according to the European Court of Justice’s (ECJ) ruling on the Heyday case, but it may be another year before a final decision is reached on the ruling.
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Bill tackles bankers’ pensions
A Labour MP has launched a formal bid to limit the pensions awarded to bankers working for institutions bailed out by the taxpayer.
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May: party discussions on pension reform resulted in the decision to drop DB schemes for new MPs prior to tackling public sector provision |
All-party backing for MP benefits review
After months of pressure, Gordon Brown has decided to lead by example with public sector pension reforms by ordering a review of MPs’ benefits
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Scheme members want to know money is being invested responsibly |
Rally for responsible clause
Influential industry figures are calling on the government to compel pension schemes to incorporate a responsible inve-stment clause into their statement of investment principles.
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Cridland: investors and trustees should not overreact to deficits |
Pressure mounting for DB
Extra pressure on firms running defined benefit (DB) pension schemes could deepen the recession and hamper the UK’s economic recovery, the Confederation of British Industry (CBI) has warned.
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