The High Court has rejected member claims Prudential breached a duty of good faith by capping discretionary pension increases at 2.5%.

Lord Hutton has voiced concerns over the participation of small businesses in the National Employment Savings Trust (Nest), stressing “compliance is going to be a major issue”.

A 30-year-old auto-enrolled into an average defined contribution (DC) arrangement today would need an initial pot of three times their salary to receive an acceptable retirement income.

DOUBT has been cast over the cost neutrality of the £140 state pension following ambiguity in a green paper recently published by the government.

In the state pension reform, the government heralded the £140 weekly sum in a nod to the Beveridge report’s objective to reach an amount that should prevent the need for recipients to claim means-tested assistance.

The Treasury’s clampdown on the use of qualifying registered overseas pension schemes (QROPS) as a way of mitigating taxation will lead to a drop in the products’ sales, according to AJ Bell.

A group of advisers from around the world are preparing a code of conduct for advisers delivering qualifying recognised overseas pension schemes (QROPS).

Platform providers on the Isle of Man (IoM) are moving into scheme administration, paving the way for the first contract-based qualifying recognised occupational pension schemes (QROPS).

Who will win the equity race? Front runners in 2011 include the US, UK and emerging markets, but there is little agreement among managers

With more people qualifying for and choosing impaired annuities in 2010, will providers be able to meet the demand with innovation?

2010 was a big year for the enhanced annuity market. The days where fewer than a third of annuitants would opt for an uplift through an enhanced or impaired annuity are long gone – recent estimates suggest around 40% of annuitants are now choosing one.

Nothing seems so easy and as difficult as trying to get people to do the right thing.

Defined contribution (DC) scheme trustees and managers should place less emphasis on funds’ fees when choosing investment strategies, according to a panel of experts.

The ‘scheme pays’ policy means it’s up to trustees to approach sponsors with details of changes to the annual allowance as this will affect benefits

IFAs should check with individual self-invested personal pension (Sipp) providers before opting for flexible drawdown products, according to Pensions Management research.

A lower-league football club chairman has come under fire over claims he misled fans about increases to his pension fund from the rent his club pays the owners.

KFC is suing Mercer for breach of fiduciary duty and negligence, and is hoping for an imminent sum of more than £15m.

BT is developing a corporate ISA solely for staff to use in investing in the telecoms giant itself.

Research by JLT and the Pensions Management Institute (PMI) found 14% of pension schemes had quantified the cost of auto-enrolment.

The announcement of secretary of state for justice Kenneth Clarke’s intention to reform no-win, no-fee arrangements may result in uncontrollable legal fees for trustees.

Pensions Management has discovered increasing disquiet over the campaign to deliver the open market option (OMO) as the default process for those due to enter retirement as failing to meet ‘treating customers fairly’ guidelines.

More than two-thirds of employers and trustees have failed to prepare for the National Employment Savings Trust (Nest) and auto-enrolment, a survey by Punter Southall has found.

Law firm Pinsent Masons is launching a lobby group to promote collective defined contribution (CDC) schemes in the UK, having received considerable interest from employers.

The government is under pressure to amend legislation governing local government pension schemes, allowing them to make better use of liability-driven investment (LDI).

Unite is engaged in a legal arms race with Ford Britain – on behalf of ex-Visteon UK workers – after bringing in a more senior and expensive lawyer.

It was standing room only, with over 40 delegates turned away, as public sector pension fund managers discussed how best to communicate the coming reforms to their members.

Public sector pension fund managers strongly questioned one of Lord Hutton’s policy leaders over the wide-sweeping reforms, a conference heard.

Shared services are set to revolutionise local government pension savings, as the first merged project announces it has already achieved 60% of targeted savings since its October launch.

Last September, the European Commission (EC)proposed a new rule that would increase transparency for over-the-counter (OTC) derivative transactions. The effects of such a proposal has created a stir among pension funds, who fear the decision creates yet another hurdle in their struggle to increase cover ratios. Other parties have pointed out the larger picture could be far more worrisome.

Whitbread is creating a bespoke diversified growth fund for its defined contribution (DC) scheme, replicating the growth component of its defined benefit (DB) portfolio.

Half a million construction workers are to avoid an annual management charge on their pension pots in 2012.

Half of M&S defined contribution (DC) pension scheme members are remaining in employment past their selected retirement date, according to the retailer’s technical manager.

Employers seeking to take advantage of increased national insurance (NI) rates to boost salary sacrifice, must do so with care, warn advisers.

Have you heard?...

Things you didn’t know about people in the industry and what they get up to

Reactions to Hutton’s review will differ depending on which sector you’re in; many say he didn’t go far enough, while public sector workers feel disenchanted with the outcome

I was reading through the latest green paper on pensions the other day, entitled ‘A state pension for the 21st century’, which at first sight seems a bit grand. But having read it I really do think the authors were right to coin such a title – it really is groundbreaking stuff.

The DWP has issued a consultation on the redesign of the current state pension system in order to provide greater clarity on people’s entitlements following the reforms

With auto-enrolment on the horizon and corporate wrap taking shape, the integration of HR and benefit systems is key to the continued success of the reward package

The continuous increase in longevity is a huge obstacle for pension schemes, but life settlements is an asset class that hedges that risk and offers decent returns to boot

Findings from the 2011 Pensions Accounting Survey from KPMG and recent changes to UK inflation indices give corporates some good reasons to be cheerful

Aviva’s Toby Strauss is keen to leave behind the turbulence of the past to concentrate on the development of the insurer’s unifying wrap platform

Toby Strauss joined Aviva as part of the insurer’s takeover of struggling wrap provider Lifetime (of which he was managing director) and progressed to chief operating officer of Aviva Life and Pensions UK in 2009, before becoming chief executive officer of the division last year. But he hasn’t had the easiest of roles.

As advisers rally against huge levy fees brought by the FSCS to pay for distribution firm Keydata’s actions, PM retells the story of the death bonds

Despite murmurings of a combined single tax and the possible impact of auto-enrolment, salary sacrifice remains a useful tool for employers and employees alike

The desire for good value, alongside the increased popularity of model portfolios and the impact of the RDR, all herald the rise of passive investments

Schroders has made three additions to its consultant relations team.

Alexander Forbes Financial Services, part of the Alexander Forbes International group, has promoted Gemma Goodman to head of The Annuity Bureau and defined contribution (DC) operations.

Lane Clark & Peacock (LCP) promoted three of its actuarial, investment and pension admin team from the UK and Ireland to the position of partner.