Pension deficits in focus in first part of new year
LONDON - Pensions' appear to be the major topic in the first half of the new year with many enterprises announcing the closure of their final salary schemes for new recruits and even old employees. As UK pension schemes struggle to cope with the huge deficits, the question on the mind of an average employee is whether any long-term solution exists.
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Sun, 29 Jan 2006 14:05 GMT |
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PCS strike continues on Friday
LONDON - The Public and Commercial Services Union has said that around 80,000 workers struck work in protest against the Government's move to cut 30,000 jobs from the Department for Work and Pensions. The PCS said that the strike is all set to continue on Friday as well.
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Sat, 28 Jan 2006 02:10 GMT |
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Pension funds turn away from equities, prefer gilts now, finds survey
A study has revealed that as much as a third of pension funds have reduced their exposure to equities and have gone in for bonds, which are said to be a safer mode of investment. The National Association of Pension Funds (NAPF), in its annual survey, found that as much as 30 per cent of respondents have cut down their exposure to equities in the last one-year, and 25 per cent of the respondents have increased their holdings in bonds.
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Thu, 26 Jan 2006 08:45 GMT |
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Yields of long-dated gilts at their lowest
Britain's debt management office has sold the latest tranche of index-linked 50-year government bonds on their lowest-ever yield as pension funds desperately tried to buy the securities to match their long term liabilities.
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Wed, 25 Jan 2006 20:00 GMT |
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Scottish Power nixes final salary pension for new employees
LONDON - Scottish Power PLC joined the list of top companies to announce that it would not be extending the final salary pension scheme to new recruits. Instead the Glasgow-based Company will offer a defined contribution scheme to new members from April this year.
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Fri, 13 Jan 2006 07:55 GMT |
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Rentokil to pay 380 million pounds into pension fund
Rentokil Initial Plc. is undertaking to pay around 380 million pounds into its pension fund to cover the deficit. It said it will pay 200 million pounds immediately as part of a series of payments finally ending not later than January 2012.
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Tue, 20 Dec 2005 08:20 GMT |
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Treasury's Sipps U-turn may have legal ramifications
Chancellor Gordon Brown's U-turn Tuesday on the pension fund investments may trigger lawsuits, according to analysts. At least one financial services firm offering the self-invested personal pensions (Sipps) has said it intends to fight the treasury’s sudden and unexplained reversal on tax breaks for pensioners who invested their funds in residential properties.
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Wed, 07 Dec 2005 13:10 GMT |
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HBOS plans to wipe out 1.8 billion-pound pension fund deficit
British bank HBOS Plc. has set plans to wipe out its pension fund deficit of 1.8 billion pounds. It says it will make a substantial fund infusion this year and a series of minor infusions in subsequent years. The bank's chief executive James Crosby said the bank will provide for 1 billion pounds at the end of this year.
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Wed, 07 Dec 2005 10:25 GMT |
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Lord Turner tells MPs to set example for pension scheme
British MPs must set an example by giving up their pension scheme if they are to impose tougher pension constraints on voters, Lord Adair Turner, who headed the Pension Commission has said.
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Sat, 03 Dec 2005 20:05 GMT |
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