Retirement

Government assumptions about the costs of personal accounts could be incorrect if they have been developed from ‘over-optimistic' figures and modelling, warns the Association of British Insurers (ABI).

Industry bodies have expressed their concerns over the problems introducing auto-enrolment in 2012 will have on group personal pensions.

Pensioners pursuing the government for compensation after their pension schemes went bust will find out tomorrow if they have won their latest court battle.

Plans to raise the contribution cap on personal accounts to £5,000 will mean the decision to remove regulated advice could not be "sustainable", warns the Investment Management Association (IMA).

The Association of British Insurers has warned the Pensions Regulator against overlapping with other organisations such as the Financial Services Authority in its attempt to regulate risks to defined contribution schemes.

HM Revenue & Customs has changed its stance and will now allow redundancy payments to be invested into a pension fund.

The Actuarial Profession is lobbying the government and Pensions Regulator to take action over the issue of cash commutation in defined benefit pension schemes.

Clerical Medical has announced it is shutting its doors to new group pension business again from April 16th, 2007.

Financial education, particularly in the workplace, is the only way to avoid a defined benefit scheme "financial Armageddon", warns Alan Pickering.

The government is planning to hold a seminar on the issue of means-testing and personal accounts at the end of the month.