UK Pension Plan in 2012

UK Pension Plan in 2012 ; Employers have frozen pension contributions to DC schemes over the last two years due to increasing financial and regulatory pressures, according to research from consultant Mercer. Average employer contributions have remained unchanged at 7.2 per cent since 2009, while employees have reduced contributions from 4.6 per cent to 4.2 per cent.

The UK’s largest employers are due to start automatically enrolling staff into a pension scheme from October 2012. However, the timetable for firms with fewer than 3,000 employees has been delayed following pressure from small business lobby groups.

EU's potential pension plan worries UK businesses
British firms are fearful of proposed European Union pension reforms, a survey showed today. The reforms may require firms to put billions of pounds into defined benefit pension plans, potentially spurring a trend to end such schemes. Read More..

MSPs to call for end to UK Government pension plan
Ahead of today’s public sector strikes the SNP said its MSPs would raise concerns over the UK Government’s cash grab on public sector pensions in Parliament and send a clear message to the UK Government that Scotland does not back this tax on public sector workers. Read More..

UK union warns BMW over pension-plan effort
Unite, the British union, Thursday warned car maker BMW that it could face industrial action in the new year unless it reverses plans to close its pension scheme to new starters and use legal loop-holes to deny agency staff equal pay. Read More..

Aviva to offload its UK pension assets
Aviva is considering selling a chunk of the billions of pounds worth of UK pension assets it owns as it looks to boost the amount of capital it holds on its balance sheet. The FTSE 100 insurance group is exploring whether to raise funds by offloading some of its so-called back book of annuities – policies that provide retirement incomes to pensioners. Read More..

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