Tag: pension
Hutton reveals his pension plan – and is blasted by unions
Reforms would abolish final salary schemes but ex-Labour minister says result would be fairer to low-paid workers Lord Hutton, the former Labour minister charged with solving the £30bn public sector pensions crisis, insisted that his plans to do away with the most generous final salary schemes would be fairer to taxpayers and leave low-paid government [...]
BT pension changes could reduce retirement incomes
BT’s decision to change the measure of inflation used to calculate pension payments has shaved £2.9bn from its deficit but could mean lower incomes for retirees BT has slashed £2.9bn from its pension deficit by changing the measure of inflation used to calculate payments to scheme members, leading to fears that retiring staff incomes will [...]
Compulsory pension annuities could be scrapped
Announcement this morning expected to say that pension investors will no longer be forced to buy an annuity The government will announce a long awaited consultation on the scrapping of compulsory annuitisation later this morning. The Financial Secretary to the Treasury Mark Hoban will announce proposals outlining how the government intends to implement the “simplification” [...]
