pensions

John Hutton, secretary of state for Work and Pensions, has admitted the new system of personal accounts announced in the pensions white paper will not come with a government guarantee in the event of failure.

Selestia has improved its communication abilities and fund dealing capacity by being the latest addition to the EMX Message System, a funds messaging platform.

The Liberal Democrats have attacked the government's response to the findings of the Parliamentary Ombudsman's report into occupational pensions, while Ros Altmann is planning to launch a judicial review of the case on behalf of the pensioners affected...

Ministers from the Department for Work and Pensions (DWP) plan to meet key stakeholder groups from the industry, employers and trade unions in advance of a new pensions summit on the National Pension Savings Scheme (Npss) to be held next month.

Savings over the summer months are set to fall, despite an increase in overall savings levels over the last year, with women saving more than men for the first time, reveals research from NS&I.

The Pensions Management Institute (PMI) has announced a new chief executive will take over following the annual general meeting in July.

Around 25% of companies named in the FTSE 250 index could in theory pay off their defined benefit (DB) pension deficits within a year using discretionary cashflow, claims research from KPMG.

Adair Turner believes the proposals put forward in the pensions white paper on state reform are a "reasonable compromise", and is pleased the government did not bow to pressure to remove contingent compulsion for employers in its plans for personal accounts....

FINANCIAL SERVICES GROUP Prudential is in talks to sell its private equity division PPM Capital to the company's management team, The Daily Telegraph has learned.

The government would like to see the arrangements for low cost personal accounts to be kept at "arms length" from the state when more details are released in a technical paper scheduled for the Autumn, claims the Minister for Pensions Reform.