IT LOOKS as though Watson Wyatt will be the first actuarial firm to face legal suits over its pensio...
IT LOOKS as though Watson Wyatt will be the first actuarial firm to face legal suits over its pensions funding advice to company pension schemes.
First out to consider litigation is US firm Sygen, an animal breeding company previously known as Dalgety before it was broken up in the late 90s.
Prospect of a new litigation stream has sparked concerns about the pricing of Professional Indemnity insurance for actuaries because a strong chance of action by clients could leave individuals seeking more costly PI cover, if they can find any at all.
PAY increases in the private sector have not been as significant as people are lead to believe, says the Daily Telegraph, and some people have seen a loss since Brown's tax increases were introduced.
Figures presented by the Office for National Statistics say once inflation at 3% and extra NI of 1% have been removed, people face a real loss of 2% because average earnings in the private sector grew by just 2% in February, half the rate of a year ago and income tax levels have been frozen.
TALKS have yet to resume between the Blair and Brown camps over the Euro decision, according to the FT, as they have yet to decide whether or not to rule out a referendum before the next election.
It is rumoured that Gordon Brown is preparing to announce that the five economic tests for membership of the single currency show the eurozone is not "flexible enough" to cope with a single framework and interest rate.
Blair, however, is still keen to leave the option of a referendum open at a later date.
AND STANDARD Life Investments has indicated it favours US stocks again, says the Scotsman, because reduced investor appetite for risk looks strong against US equities.
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