Retirement

While recent Budget coverage has been dominated by the fabulous sleight of hand used by Gordon Brown to give with one hand and take with the other, the effect on pensions were slightly overlooked - mainly because all the measures were expected.

The decision to measure pension deficits under Financial Reporting Standard 17 could be driving companies and trustees into a more conservative investment strategy which could prove costly in the long term, claims the Association of British Insurers....

Providers who have resigned as scheme administrators of pension schemes may not only be leaving members to "fend for themselves", but could be leaving IFAs open to compensation claims if things go wrong, warns Rowanmoor Pensions.

Constantly changing rules and u-turns on A-Day issues is putting people off saving for retirement, claims financial services firm Edward Jones.

The decision not to allow transfers in and out of personal accounts could lead to employees being trapped in "high charging, poor value personal pensions", warns the Trades Union Congress.

Attempts by both government and the industry to raise awareness about the importance of saving in a pension are still failing as around 60% of women do not contribute to a pension scheme, claims HSBC.

Apathy is the biggest deterrent for UK workers aged under 34 when deciding about a pension, claims B&CE Benefit Schemes.

Government policy on personal accounts may have to be "revisited" if the Thoresen review into generic advice fails to identify a short, simple and easy to understand way of providing information on whether to opt-in or out of personal accounts, warns...

The Information Tribunal has scheduled a full two-day hearing to decide whether the Treasury should be made to reveal detailed information about the effects on pension schemes of the removal of tax relief on dividends in 1997.

Pension campaigners have pointed out the extra money earmarked for the Financial Assistance Scheme in the Budget will only increase the total of the fund to £1.9bn, not the £8bn stated by Gordon Brown.