Law

CANADA - The Ontario government has proposed a number of changes to the employment pension system in what could be the most far reaching reform in the last two decades.

UK - As many as 150,000 additional people will be caught out by the extension of higher-rate tax relief restrictions announced in today's pre-budget report.

Chancellor Alistair Darling is expected to delay the introduction of personal accounts for a year as part of spending cuts in today's Pre-Budget Report.

US - The chairman of private equity firm Markstone Capital Group has pleaded guilty in the on-going investigation of pay-to-play kickback schemes at the New York State Common Retirement Fund (CRF).

US - Verizon retirees have sued the telephone company alleging they had been illegally transferred and, as a result penalized, to the pension plans sponsored by Idearc, a now bankrupt company.

US - A group of AK Steel retirees will receive over US$51m as a compensation for having been paid less than the full accrued benefit due to them under the AK Steel Pension Plan.

US - Five Ohio pension funds have filed a lawsuit against the three ratings agencies for allegedly providing strong ratings to mortgage backed securities in exchange for kickbacks from the issuing firms.

NETHERLANDS - The Dutch government's planned reform on retirement age which would see Dutch workers retiring at 67 instead of 65 came under the fire of the opposition parties during a parliamentary debate yesterday.

NETHERLANDS - Dutch MPs are discussing today the controversial pension age reform with prime minister Jan Peter Balkenende and finance minister Wouter Bos.

JAPAN - Japan Airlines Corp., seeking its fourth state bailout since 2001, rose the most in the almost two weeks after the government said a state bank will provide a loan and that laws may be introduced to make it easier to cut pensions, Bloomberg News...