An independent review into how the new auto-enrolment pensions system will work has been launched by the government and welcomed by business groups. Iain Duncan Smith, secretary of state for work and pensions, has today announced a team of three ind  More...
24 June 2010 13:42

There are many reasons to welcome the mood of fiscal probity that has permeated Whitehall, following the first report from Sir Alan Budd's Office for Budget Responsibility (OBR) last week. Closing the deficit will require determined action in tomorrow's  More...
21 June 2010 16:47

The new public sector pensions commission must take steps to improve transparency over the cost of pension provision and establish a clear framework for reform, the CBI has said. Over the weekend, chancellor George Osborne revealed a new independent  More...
21 June 2010 16:12

Public sector workers could face a steep rise in their pension contributions as the government plans to take steps to reform the benefits. The government workers could be expected to pay hundreds or even thousands of pounds more each year into their  More...
21 June 2010 08:31

Deputy prime minister Nick Clegg has come under attack from inside his own party and from unions over claims that public sector workers enjoy "gold-plated and unaffordable pensions". The scale of the attack was the first sign that Clegg could be a l  More...
16 June 2010 08:34

The wave of final salary pension scheme closures is set to worsen after new research revealed 94% of employers intend to reduce or axe their provisions. A survey of 179 employers by PricewaterhouseCoopers ( PwC), including 38 of the FTSE 100, found  More...
14 June 2010 00:01

Northern Rock will cut 650 jobs and close its final salary pension scheme. More than 2,000 jobs have already been lost at the bank since it was nationalised two years ago. The job cuts are thought to be a way of reducing overheads and costs, maki  More...
09 June 2010 08:22

Benefits and public sector pensions have been formally earmarked for potential cuts for the first time, the chancellor has revealed. George Osborne has said these areas will now be "comprehensively examined" as he singled them out for special attent  More...
09 June 2010 08:14

Royal Mail's pension deficit has now reached £8bn. The figure published in the postal service's annual accounts provides a snapshot of the pension fund's position, but a full three-yearly valuation of the scheme, which is set to be published in the   More...
21 May 2010 08:41

The chief executive of BP has moved to reassure staff that the financial fall-out from the oil spill in the US Gulf of Mexico will not affect their jobs and pensions. In an e-mail to staff, obtained by the Financial Times , Tony Hayward insists th  More...
20 May 2010 10:01

Employers have been urged to educate their staff about pension provision after research revealed there is "a stark gap" between employees' expectations of their pension income and the likely reality. The YouGov poll of 2,000 people , commissioned b  More...
20 May 2010 09:28

With 15 million people saving for their retirement through a pension, and millions already drawing a pension, this is a topic that must be on the priority list for a new government, whatever the colour. And even more so, given that, over the next 25 yea  More...
07 May 2010 15:39

Political commentator Will Hutton wrote recently that the British "are suddenly discovering a truth that was buried in the New Labour boom years... that fairness matters". Our political leaders certainly seem to have realised this, and proposals on pay   More...
28 April 2010 11:05

The second election TV debate last night saw the topic of immigration and migrant workers take centre stage again as the three would-be prime ministers battled out their policies on the issue. Liberal Democrat leader Nick Clegg proposed an amnesty f  More...
23 April 2010 09:18

Insurance giant Aviva has announced plans to close its final salary pension scheme to existing members. The company, which closed its pension scheme to new entrants nine years ago, said it will enter into consultation with staff in June about closi  More...
21 April 2010 09:28

Compulsory workplace pension schemes must be overhauled by the next government or millions of private sector workers will be put off saving because of high and complicated yearly charges, the CBI has warned. The next government should rethink its a  More...
19 April 2010 09:21

BT could face strikes following a dispute over its proposed pay awards for staff. The Communication Workers Union (CWU) has now threatened to ballot 50,000 employees unless the telecommunication giant withdraws it plans. In a letter to members An  More...
16 April 2010 09:09

The Conservative pledge to "abolish the default retirement age (DRA)" entirely - going one step further than the government which yesterday promised to remove only the DRA at 65 - has angered business groups. In the Conservative Manifesto 2010, publis  More...
13 April 2010 16:53

AA staff have voted to strike in a dispute over pensions. It is the first time in the vehicle breakdown company's 105-year history that workers have been balloted on national industrial action. In a vote which closed yesterday 57% of workers voted  More...
08 April 2010 08:47

The solution to the public sector pensions deficit will not be as simplistic as moving from defined benefit (DB) schemes to defined contribution (DC) schemes in one fell swoop, experts have warned. In a report released today , the CBI called on the  More...
07 April 2010 08:00