Retirement

The white paper on pension reform, widely expected to be published on Thursday, should meet five key tests, including setting out a clear timetable for reform, if it is to build a new sustainable system, claims the Trades Union Congress (TUC).

A National Pension Savings Scheme (Npss) would require some form of generic advice, the Treasury Select Committee (Tsc) has stated.

The Board for Actuarial Standards (BAS) has now fully adopted existing professional guidance in addition to transitional arrangements for final revisions onto its website.

The government is looking to legislate all the pension reforms put forward in next week's white paper in this parliament, although not all will take effect until the next session.

Every employer should sensibly check the pension contributions made to employee plans are cleared by the local HMRC office until clearer guidance on rules is delivered, claims Winterthur Life's pension strategy director.

An apparent loophole which may allow individuals to pass on money from their pensions without attracting an Inheritance Tax (IHT) charge is being investigated by Her Majesty's Revenue and Customs (HMRC).

Two in five under-30s believe they will have retired by the age of 50, despite the strong possibility of an increase in the state retirement age to 68 by 2050.

The Pensions Advisory Service (TPAS) is launching its pro bono mediation scheme in full, following a successful trial period.

Lord Turner's proposals for the reform of the State Second Pension (S2P) will accelerate the closure of remaining Defined Benefit (DB) schemes, claims Aegon.

It is possible to reduce the growth of means-testing by as soon as 2010, claims a report from the Pensions Policy Institute (PPI).