Deputy prime minister Nick Clegg has called for a major overhaul of public sector pensions as the cost of their provision is expected to double over the next four years.
Figures from the Office for Budget Responsibility indicate annual costs will rise from £4bn in 2010/2011 to £9bn in 2014/2015, or £143 for every one of the 62.7 million inhabitants of the UK.

Recent climate change legislation could have a serious impact on the profitability of the UK firms pension schemes invest in, trustees have been warned.

Small self-administered schemes (SSASs) are legacy products with no relevance to the vast majority of clients, an industry panel has heard.
Speaking at a Pensions Management roundtable, the group of industry spokesmen agreed the only advantage a SSAS had over a self-invested personal pension (Sipp) was the loanback facility.
“Is SSAS not a hangover term?” asked Paul Garwood, director at Smith & Williamson. “The SSAS as we used to know it is no more.

PM’s annual Sipp survey reveals industry concerns for the immediate future, but hope remains in the long term as the market regroups

The Pension Protection Fund (PPF) could be liable for millions of extra pounds in schemes where equalisation has been miscalculated.

Continued interest in special purpose vehicles (SPVs) among blue chip employers is expected to follow moves by Marks & Spencer (M&S) and Sainsbury’s.

A review of the way pension assets and liabilities are calculated is to be launched this year by the International Account-ing Standards Board (IASB).

Public sector pensions have seen payments increase by 38% in the last decade, according to a National Audit Office report (NAO).

The local government pension scheme may face a deficit of £60bn, if figures from the Liberal Democrats are to be believed.

IBM has been accused of forcing through changes to its £6.6bn defined benefit scheme for UK employees, without trustee approval.

Hargreaves Lansdown announces the launch of an integrated corporate wrap in April 2010, incorporating workplace savings, ISAs and group Sipps

Further details of ITV pension scheme’s groundbreaking contingent assets deal have been revealed by the chair of trustees, Graham Parrott.

A local authority pension scheme is poised to become the first of its type to hedge itself against the risk that its pensioners will live longer than expected.

At least two FTSE 100 employers are currently tendering for enhanced transfer value (ETV) exercises after a shift in corporate bond values made pricing more effective.

Cost pressures on defined benefit schemes are forcing through innovative changes such as contribution holidays and pensionable salary caps.

Some of the country’s biggest final salary pension schemes have chosen the summer months to publicly announce plans for drastic changes to plug growing deficits.

Scheme trustees are still prepared to pay for quality administration services despite the recession, according to PM research.

The Oval Group has revealed it is to develop a third-party administration function from the former Unigate pension scheme.

The market for consulting services servicing pension schemes has seen much consolidation in recent years, but one company bucking the trend is the Oval Group.

"We have long warned the government that it must radically reform regulation and create a flexible regime that allows employers to meet the needs of a modern workforce. While the government has made some changes, ministers have not taken this issue seriously enough.”

The closure of several large defined benefit (DB) schemes in the past few weeks could have a ‘snowball effect’ on the rest of the DB sector, according to industry commentators.

Workers with an income of between £100,000 and £113,000 could be better off by increasing their pension contributions in the next tax year.

Low-wage earners are far less likely to belong to a company pension scheme than higher-paid employees, according to the Office for National Statistics.

BT has cut its dividend share price in an effort to plug a £4bn funding gap in its pension scheme.

Administration costs increased by around 20% during 2008, according to Watson Wyatt’s annual Pension Scheme Cost Survey.

A survey of 200 businesses found that no open final salary schemes are planning to close.

Goodyear Dunlop, the UK branch of the tyres and car supplies manufacturer, is looking to introduce a new defined contribution (DC) scheme for its members.

A defined benefit pension scheme’s rules have been rewritten to reflect the intention of its sponsor and trustees after a High Court decision.

Despite a number of recent studies indicating that UK workers are disenchanted with occupational pension arrangements, Kellogg’s, the household name cereal manufacturer, can demonstrate it has successfully bucked that trend.

Insurance broker and pensions consultant Aon has denied its recent merger with Benfield directly influenced the decision to cut its pension benefits.

Two local authority pension schemes are looking to sue Royal Bank of Scotland (RBS), claiming that it falsely reassured investors of its financial security.

Defined contribution (DC) needs to be better targeted if it is to deliver what both the employer wants and the member requires, said Gary Smith, a senior member of Watson Wyatt’s DC team.

A new type of defined benefit (DB) scheme could be a long-term solution for many employers struggling to meet current DB guarantees, according to a leading pensions expert.

Premier Foods, the maker of Hovis bread, has established new arrangements with trustees of its four pension schemes to reduce their burden.

Business and pensions groups are calling for action to abolish the indexation of defined benefit (DB) pensions, to help companies avoid insolvency during the recession.

Standard Life is to develop a corporate self-invested personal pension (Sipp) plan for BT staff.

OPT advises pension funds in danger of entering the PPF: keep running and generating returns so members can receive full benefits

More than 90% of small firms’ defined benefit (DB) schemes are closed to new members, and half of those are closed to new accruals, according the Association of Consulting Actuaries (ACA).

The acceleration in UK defined benefit (DB) scheme closure will continue in 2009, Watson Wyatt has predicted.

Companies operating defined benefit (DB) schemes need to be more aware of the costs involved in these schemes if they are to successfully overcome the economic downturn, according to research by Pension Capital Strategies (PCS).

Standard Life is to remediate certain customers of its Sterling Pension Fund following its announcement that the value of the fund had dropped by 5%.