Eleven million people would boost their retirement savings if only they knew more about this particular pensions rule change June 21, 2016 As many as 11.4m people could be encouraged to boost their pensions savings if they had more information about a rule change that came in last year, research out today has found. The study by Aegon found that a third (33 per cent) of the 4,000 people surveyed were clueless about the pension freedoms, which came into [...]
Now the PPF is warning proposed changes to British Steel Pension Scheme could set a precedent June 21, 2016 Proposed changes to the British Steel Pension Scheme (BSPS) could set a precedent for other troubled industries, the UK's pensions lifeboat has cautioned today. Responding to an ongoing consultation into the BSPS, the Pension Protection Fund (PPF) has warned that one of the options on the table – which would involve using legislation to slash [...]
Here’s one piece of EU red tape you won’t escape by voting for Brexit June 21, 2016 UK companies will be affected by an incoming piece of EU data protection legislation regardless of which way Thursday's vote goes, an international law firm has said today. Speaking ahead of a conference at the Institute of Directors headlined by specialist insurer Beazley, Hans Allnutt, head of the cyber risk and breach response team at DAC Beachcroft, pointed [...]
MPs cast doubt on government promises to working parents, warning that the early years system might not be capable of delivering on free childcare plans June 15, 2016 MPs have today warned the government may not be able to deliver on a set of promises designed to benefit working parents. A report by the Public Accounts Committee (PAC) warned that there may not be enough childcare providers to fulfil the government's pledge of an additional 15 hours of free childcare a week to working families [...]
Creative and technology industries best served by Remain vote, warns law firm June 14, 2016 A Brexit would hamper the UK's creative and technological industries, a law firm specialising in intellectual property has today warned. EIP also noted that it was supporting the Remain campaign, adding that a vote to leave the EU would be bad for intellectual property (IP) rights holders in general. Read more: ECB to do "whatever it [...]
Sir Philip Green will be chatting with MPs tomorrow after all June 14, 2016 After a few days of doubt, Sir Philip Green has today confirmed that he will attend a hearing with MPs to discuss the collapse of BHS after all. There was some speculation that the Arcadia boss would bow out of his scheduled meeting after last week calling for the chair of the Work and Pensions select committee to [...]
Scottish Widows reveals £630m bulk annuity buy-in deal with the ICI Pension Fund June 14, 2016 Scottish Widows announced today that it has secured a £630m buy-in with the ICI Pension Fund. The buy-in, which is essentially an insurance policy deal for pension benefits and will cover over 4,000 of the fund’s pensioner members, is Scottish Widows' largest external bulk annuity transaction to date. "We are delighted to have been chosen by the trustee of the [...]
Total deficit on pension schemes eligible to board the pensions lifeboat grew by more than £20bn in a month June 14, 2016 It could be a tight squeeze to board the pensions lifeboat, as figures released today revealed that the total deficit value of the schemes eligible to join increased by more than £20bn in a month. The latest PPF 7800 Index figures, which keep track of the funding position of the defined benefit (DB) pension schemes eligible for [...]
Scrapping tax havens would be unrealistic, experts tell MPs June 14, 2016 It would be unrealistic to think low corporation tax jurisdictions, or so-called tax havens, could be eradicated, the Treasury committee was told today. Responding to a question from the committee on whether tax havens are a relic, Steve Edge, a tax partner at Slaughter and May, pointed out that different jurisdictions had different "packages" on what they could offer businesses. He added [...]
Fees soar for legal eagles, as law firms reveal they are modestly optimistic about their future June 14, 2016 Lawyers had reason to celebrate today, after a report revealed that fees at the top 100 law firms rose by 5.4 per cent in the year to April. The report by professional services firm Deloitte revealed that fee income in the last quarter of the financial year increased by an average of six per cent year-on-year. Firms are [...]
