NAPF

The Government could sustain defined benefit (DB) schemes by deregulation and less intervention, says the National Association of Pension Funds (NAPF).

The burden of regulation is the top concern among pension funds, according to the National Association of Pension Funds.

The only solution to a second wave of final salary pension scheme closures is for the government to encourage the introduction of risk-sharing schemes, claims the Association of Consulting Actuaries.

The Government's deregulatory review of pensions must deliver "meaningful reform" rather than "simply tinker around at the edges", says Joanne Segars.

John Hutton, Secretary of State for Work and Pensions, has revealed personal accounts will be run by trustees who will take "ultimate responsibility" for the "strategic direction" of the scheme including choosing funds and collecting contributions.

The Pension Protection Fund has confirmed it will not include investment risk as part of the risk-based levy.

Gordon Brown's decision to abolish tax relief on dividends to pension funds in 1997 has cost the 200 largest defined benefit pension schemes £20bn, claims Aon Consulting.

The ability to take tax-free cash should be prohibited in personal accounts, as this would cut the cost of tax relief and help subsidise the scheme, claims First Actuarial.

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 .

Government should offer employers providing good existing pension schemes access to a £2bn incentive fund to stop schemes from levelling down, says the National Association of Pension Funds.