Anger is growing among employers and pension funds over the tight timetable the government has set for consultation on changes which could produce big cuts in the future value of final-salary pensions, says the Financial Times .
An independent review is consulting on changes which could remove or reduce the legal requirement to provide some inflation-proofing both for current pensions and for accrued benefits left behind when people change employers. It is also consulting on making it easier for schemes to raise the pension age in line with greater life expectancy and on making it easier for employers to reclaim surpluses from pension funds. The National Association of Pension Funds (NAPF) broadly backs the moves, but Joanne Segars, its chief executive, said: "These are really important issues, which will be ...
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