News

The government set "tougher targets than expected" in yesterday's Budget, fund managers say.

Ireland - Three quarters of Ireland's defined-benefit pension plans were in deficit at the end of 2009, the Pensions Board has said.

A group of consumers has warned the department for work and pensions a "too broad" review of the 2012 reforms would compromise the "hard-won consensus" on auto-enrolment.

The default retirement age of 65 will be "quickly" phased out following a government consultation, the Budget reveals.

Employer Financed Retirement Benefits Schemes do fall under government anti-forestalling legislation, the Budget confirmed.

The government's decision to calculate public sector pension liabilities using Consumer Price Inflation rather than Retail Price Inflation will hit lower earners hardest, a consultant warns.

The industry has unanimously backed George Osborne's emergency Budget promise to investigate alternatives to the introduction of pension tax relief restrictions for high earners.

Sterling has strengthened against the US dollar and euro on the back of today's emergency Budget, while gilts have also bounced.

UK - Sterling has strengthened against the US dollar and euro on the back of yesterday's emergency Budget, while gilts have also bounced.

UK - The UK government is set to work with business to find "alternative ways" of implementing pension tax relief restrictions - and is considering reducing the annual allowance to as little as £30,000.