Treasury

EU plans to harmonise the Institutions for Occupational Retirement Provision directive with Solvency II capital requirements could dent the government's infrastructure ambitions, a Treasury minister says.

The government should move public sector pensions to a funded model to create a £30bn a year ‘sovereign wealth fund' to invest in long-term projects, argues a Conservative backbencher.

The Treasury has recommended that banks with group-wide pension funds should split them into separate schemes for each arm of their businesses.

The government has launched draft legislation for consultation on a new general anti-abuse rule that aims to tackle artificial and abusive tax avoidance schemes.

The Treasury is under so much pressure it should consider becoming funded directly by the financial services industry, former cabinet secretary Gus O'Donnell has said.

The Debt Management Office has launched a consultation with investment firms on plans to cancel £7.3bn of gilts from the Royal Mail Pension Plan.debt

A levy on local authority schemes could be introduced to fund the creation of an independent national governance organisation aimed at improving standards and scheme performance.

The Treasury select committee has launched an inquiry into corporate governance in the UK.

The Scottish government has accused the coalition of planning reform of public sector pensions without proper consultation.

The Treasury is in talks with US authorities to grant UK schemes a full exemption from the Foreign Account Tax Compliance Act.