The National Union of Teachers (NUT) has voted to strike alongside the biggest civil service union if pay is frozen, pensions cut or working conditions changed. A joint walkout by NUT and Public and Commercial Services Union (PCS) members would hit More...06 April 2010 08:23
The ballooning public sector pension deficit must be tackled by switching employees from a final salary model to a pay-as-you-go defined contribution (DC) model, the CBI has warned.
A new report by the business group claims the transfer to the less More...06 April 2010 00:01
Changes to employment law in force from April 2010 include the replacement of the sicknote with a new fit-note system, a new right to make a request in relation to study or training, and a new right for fathers to take up to 26 weeks' additional paterni More...31 March 2010 13:44
The National Association of Pension Funds (NAPF) has called for a new commission to review the state of the UK's retirement savings.
As part of its blueprint for the UK pension system, Fit for the future – NAPF's vision for pensions , the NA More...30 March 2010 08:53
Workers will be able to retire on two-thirds of average earnings and defined benefit schemes will be restructured to carry less risk, if new proposals by the National Association of Pension Funds (NAPF) are put into practice by the government. Under More...29 March 2010 00:01
Workers in the private sector will have to accept a £4.75bn reduction in their pensions as the country tries to recover from the recession, while public sector workers' retirement funds will escape cuts, the Daily Mail has reported .
Limits More...26 March 2010 08:52
Earlier this month, the government announced the intended charges for the National Employment Savings Trust (NEST).
This may have passed many readers by, as NEST is itself a new name for the pension scheme that many more of you know as either Perso More...26 March 2010 08:29
UK workers must not be able to draw on pension savings before hitting the retirement age because of the administrative headache it will cause, the Social Market Foundation (SMF) has said .
The think-tank added that any change to allow early acc More...24 March 2010 09:09
The government scheme aimed at encouraging low-paid employees to save for their retirement could be a "disaster", experts have warned. The call came after the government revealed that all contributions into the National Employment Savings Trust (Nest More...17 March 2010 08:52
Public sector pension payouts could more than triple over the next 50 years, the National Audit Office (NAO) has warned.
In a report on unfunded public sector schemes, the NAO found they will pay out £79bn by 2060, compared with £25bn this year.
More...12 March 2010 09:01
Pensions remain the most important employee benefit on top of salary that an employer can offer, a study has found.
This is despite more than one-third of workers (38%) worrying their own pension funds would be inadequate during their retirement,&nb More...10 March 2010 08:11
More than 100,000 people are now members of workplace pension schemes that meet the NAPF's new Pension Quality Mark.
The mark, overseen by the National Association of Pensions Funds, is awarded to employers that contribute 6% or more to their de More...08 March 2010 08:31
The state pension age (SPA) should be raised faster and further than currently planned and the default retirement age (DRA) should be scrapped, according to a new report.
The Working longer, living better: A fiscal and social imperative repo More...25 February 2010 16:10
The value of pension top-up payments made by employers has nearly halved in two years, research has found.
Figures released by the Office for National Statistics (ONS) revealed the value of these payments fell from a peak of £13.2bn in 2006 to £6.8b More...24 February 2010 08:48
The National Association of Pension Funds (NAPF) will today launch a new governance code, urging pension funds and other institutional investors to promote better standards.
The NAPF will recommend that institutional investors engage more closely wi More...09 February 2010 09:32
Staff at vehicle breakdown service the AA may strike for the first time in the company’s 105-year history. The threat of industrial action was caused by plans to cap benefits in two AA pension schemes. The Independent Democratic Union (IDU) will an More...03 February 2010 08:38
The jobs of 135 staff at the UK arm of Reader’s Digest are under threat. The magazine came close to financial collapse last night after a talks on a deal to prop up its pension fund broke down.
The jobs and the full pensions of 1,600 past and More...02 February 2010 11:27
Staff are paying more money into their pensions than their employers, research has revealed.
Figures from the Office for National Statistics (ONS) show that employers paid £40.6bn into company pensions in 2008, a £4bn (9%) drop year-on-year, but wor More...28 January 2010 10:13
The pension deficit for local councils in England and Wales could have reached £60bn – more than double the level three years ago, the Liberal Democrats have warned.
Using the Freedom of Information Act, Lib Dem pensions spokesman Steve Webb fo More...15 January 2010 09:12
DSG International, the owner of Currys and PC World, has begun consulting over the closure of its defined benefit pension scheme to future accrual.
The move would affect 2,400 of DSG's 40,000 staff, the Times has reported . The scheme has already More...15 January 2010 08:51