Investment

Solvency II-style capital requirements for pension schemes could cost employers £350bn, cut 180,000 jobs from the economy and cut the value of pensions, the Confederation of British Industry (CBI) has warned.

FIVE THINGS

The Department for Work and Pensions (DWP) will review the Pension Protection Fund (PPF)compensation cap over fears long-serving workers are receiving "penal" treatment.

Resolution has announced its finalised governance restructure which will see it pay £7.5m to its external management arm, Resolution Operations Limited (ROL).

Governments must do more to reduce the long term cost of ageing on public finances, according to the International Longevity Centre UK (ILC-UK).

The Chancellor's decision to cut tax relief on high earners' pension contributions was "regressive" and the change puts catch up savers at a disadvantage, Rowanmoor's Robert Graves has said.

Building society Nationwide has stopped offering pension advice and withdrawn its stakeholder product because it cannot facilitate adviser charging.

IFAs will be hit with a "tsunami" of requests for information about corporate pensions in the next four years, forcing them to deal with the sector, according to pensions expert Steve Bee.

The auto-enrolment earnings trigger could be pushed up to £9,440 following a surprise increase in the personal tax allowance in yesterday's Autumn Statement.

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