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Ombudsman report delayed

The Parliamentary Omb-udsman’s report into whether Government “maladministration” harmed members of occupational pension schemes in wind-up has been delayed until October as the Government wants to present new evidence.

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Pension deficits improve by 30bn

The total deficit of UK companies’ final-salary pension plans stands at 100bn, according to analysis by Deloitte. This is an improvement from 130bn at the start of 2005, aided by the 10 per cent rise in the stockmarket since January 1. Deficits among FTSE 100 companies have decreased to 52bn from 65bn at the start […]

CTF investors opting for cash

Over 70 per cent of Child trust fund vouchers accounts opened are invested in cash, according to the Building Societies Association.Since launch, the eight BSA members offering cash and stakeholder options have opened around 270,000 CTF accounts with 70 per cent opting for cash.Net receipts of over 12m were taken into cash accounts in June […]

PPF costs to grow over 300m

The cost of the Pension Protection Fund will be significantly higher than 300m a year after its calculations revealed the UK’s total pension deficit is 134bn. The revised estimate will be announced at the end of November on the same day the Turner Commission is due to report. The PPF last week unveiled the calculations […]

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