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Local council pensions have a total deficit of £54bn, equating to about £2,000 for every family in the country, according to research from the Taxpayers’ Alliance.
A financial support direction issued by The Pensions Regulator against insolvent companies is an expense of the administration and must be complied with, the High Court has ruled.
The deficits of the 200 largest private pension schemes have grown by 50% since 2006, according to Aon Hewitt.
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The switch from RPI to CPI for pensions indexation will give members a lower outcome over the long term but gives better consistency, Steve Webb says.
A landmark court case starting today could set a precedent for pension funds to take priority over other debts during bankruptcy.
The deficits of the 200 largest private final salary schemes have reached their lowest levels since September 2009, Aon Hewitt says.
The government should take responsibility for the Royal Mail’s £8bn pension deficit, Richard Hooper says.
Retirement solutions should have the flexibility to provide both decent pensions and meet long-term care costs if necessary, the Association of Consulting Actuaries says.
There has been a “marked decline” in provision for ongoing defined benefit(DB) pension schemes run by FTSE 100 companies, a report from Pension Capital Strategies says.
Prudential is expected to palm off part of the cost of its aborted £24bn bid for Asian rival AIA on to the UK taxpayer.
The total deficit and funding positions of the UK’s defined benefit (DB) pension schemes worsened in May, according to the Pension Protection Fund (PPF).
Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.
UK pension funds recorded their highest returns for four years in 2009 – a year which also saw FTSE 100 companies rocked by record deficits.
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