cash

Consultant Watson Wyatt says pension simplification and A-Day threaten possible tax rates up to 95% on parts of benefits, causing executives in the biggest UK firms to shift their retirement savings to UURBS.

Zurich Assurance has a lunched a new multimanager fund which guarantees the unit price will always be worth 80% of more of it highest value.

One in four UK companies say they consider, or would consider, giving employees cash instead of offering a pension, says an international human resources consultancy.