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....Nathan Long, analyst at Hargreaves Lansdown, said: “The increase in the number of people working over 70 is predominately because they want to work later, not because they need to. But we do expect that to shift rapidly as final salary pension schemes are phased out, and more people come to retirement underfunded. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 01:05:53 PM
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....The Pensions Regulator and Green announced they had reached a settlement over the BHS pensions scandal last month. The £363m payment from Green included £20m towards the cost of setting up a new pension scheme for former BHS workers. ... [Read full article on Guardian ]
Tuesday 21st of March 2017 06:30:06 AM
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Latest Finance News related to Pension Scheme

Number of women working past 70 in UK doubles in four years image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 01:05:53 PM
....Nathan Long, analyst at Hargreaves Lansdown, said: “The increase in the number of people working over 70 is predominately because they want to work later, not because they need to. But we do expect that to shift rapidly as final salary pension schemes are phased out, and more people come to retirement underfunded. ...
Sir Philip Green 'could get £15m refund from £363m BHS payout' image
Source : Guardian [Read Article] Tuesday 21st of March 2017 06:30:06 AM
....The Pensions Regulator and Green announced they had reached a settlement over the BHS pensions scandal last month. The £363m payment from Green included £20m towards the cost of setting up a new pension scheme for former BHS workers. ...
Does BT's Openreach deal mean faster broadband or higher prices? image
Source : Guardian [Read Article] Friday 10th of March 2017 01:21:25 PM
....This is a saga that has gone on for years. One problem is BT’s pension scheme, which suffers from a mammoth deficit, and a forced separation would likely have provoked lengthy legal battles. ...
Morrisons profit rises as recovery continues image
Source : BBC [Read Article] Thursday 9th of March 2017 07:36:42 AM
.... . The supermarket said other pressures on costs included its pension scheme, which is currently in surplus, and higher staff pay. ...
Lack of pension equality for same-sex couples 'is sexual discrimination' image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:05:48 PM
....After leaving the army, Walker worked for chemicals group Innospec for more than 20 years and retired in 2003. He made the same contributions to the pension scheme as his heterosexual colleagues. ...
Theresa May must give Vauxhall assurances over Brexit, says Labour image
Source : Guardian [Read Article] Monday 6th of March 2017 08:03:56 PM
....There are concerns about the pensions of Vauxhall workers, who could face a cut of between 10% and 15% to their pay and benefits. The Vauxhall pension scheme is estimated to have a deficit of £1bn. ...
Topshop owner to double contributions to plug pension deficit image
Source : Guardian [Read Article] Sunday 5th of March 2017 03:28:55 PM
....Sir Philip Green has agreed a deal to pump as much as £50m a year into the pension fund behind his fashion business, Arcadia, to plug a growing deficit, just days after reaching a settlement over the BHS pension scandal. Arcadia, which controls Topshop, Dorothy Perkins and Miss Selfridge, will double payments into its pension scheme from £25m a year to £50m this year, potentially heading off another pensions controversy. ...
Peugeot owner PSA close to deal to buy Vauxhall and Opel image
Source : Guardian [Read Article] Saturday 4th of March 2017 07:26:55 AM
.... The scheme had a deficit of £840m at the end of 2014, according to regulatory filings, but analysts estimate that it could now be more than £1bn. John Ralfe, a pensions expert, said PSA would be “rip-roaring bonkers” to take on the pension scheme. ...
New Lifetime ISA launched in April: Should you use it to boost retirement savings?  image
.... Contributions to the account can only be made until a saver is 50. It's feared workers could spurn existing pension schemes that hold a number of benefits for long-term savers. ...
Philip Green owes us BHS workers much more than ‘up to’ £363m | Grant Atterbury image
....In the nine months since I was made redundant after eight and half years working at BHS, much has been said about bringing those responsible to account but little has actually been done. It came as a surprise then when my Twitter feed burst into life with excited messages announcing that the disgraced former BHS owner Sir Philip Green had promised to pay £363m into the BHS pension scheme. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
. Dominic Chappell, the last owner of BHS, has pledged to fight legal action by the Pensions Regulator designed to force him to pay millions of pounds into the failed retailer’s pension scheme, saying the black hole in the scheme was not his fault. ...
Sir Philip Green's reputation 'still stained' despite BHS pension deal image
. Retail tycoon Sir Philip Green's £363m payment to the BHS pension scheme does not wipe away the stains from his reputation, a senior MP has said. ...
Sir Philip Green hasn't pushed the boat out with his BHS pensions deal | Nils Pratley image
....Do not run away with the idea that Sir Philip Green has suddenly been overcome by the spirit of generosity. In agreeing a £363m settlement to top up the BHS pension schemes, he has probably done enough to keep his knighthood but he has not pushed the boat out. ...
Sir Philip Green strikes BHS pension deal with regulator image
Source : BBC [Read Article] Tuesday 28th of February 2017 02:38:18 PM
. Sir Philip Green has agreed a £363m cash settlement with the Pensions Regulator to plug the gap in the BHS pension scheme. ...
Vauxhall pensions 'won't be hit by PSA Group deal' image
Source : BBC [Read Article] Friday 24th of February 2017 12:40:52 PM
. The boss of France's PSA Group, Carlos Tavares, has told Business Secretary Greg Clark that members of Vauxhall's pension scheme "will be no worse off" should his firm buy the brand. ...
Government pension scheme begins ditching oil and gas investments image
Source : Guardian [Read Article] Friday 24th of February 2017 10:21:26 AM
. A giant pension scheme with more than 4 million members is shifting almost 10% of its investments into a new climate change fund designed to move people’s money out of fossil fuels and into renewable energy. ...
CPI was never meant to be real measure of inflation | Letters image
Source : Guardian [Read Article] Thursday 23rd of February 2017 07:07:14 PM
. Your article (Pension changes could cost 11m Britons thousands of pounds, 21 February) says 75% of pension schemes use the retail price index (RPI). ...
Fears grow for Vauxhall jobs as government vows to do all it can image
Source : Guardian [Read Article] Monday 20th of February 2017 07:31:35 PM
....”. PSA would be “rip-roaring bonkers” to take on the pension scheme, he added. ...
Pension changes could cost 11m Britons thousands of pounds image
Source : Guardian [Read Article] Monday 20th of February 2017 01:42:09 PM
.... It cites estimates from pensions consultancy Hymans Robertson that a shift to CPI would “take away about £20,000 in benefits over an average DB (defined benefit) scheme member’s life”. Currently, 75% of pension schemes in Britain increase payouts to members each year using RPI rather than CPI, and usually the scheme rules and legislation prevent companies from lowering their promises. ...
Baby boomers don’t deserve to be punished | Letters image
Source : Guardian [Read Article] Sunday 19th of February 2017 06:31:16 PM
....Employees were valued and treated well. Most firms had a good – contributory – pension scheme, canteen and often Christmas parties for children of employees, all paid for by the company. ...
Pension warning: Retirees set for SHOCK tax bill after new rules are introduced THIS April image
....“Given that most people won’t be aware of the plans to reduce the MPAA, there is a significant risk large numbers will accidentally overpay into a pension and be hit with an unexpected tax charge. “This is particularly the case because everyone will be automatically enrolled into a workplace pension scheme with minimum contributions of eight per cent in 2019. ...
Tata Steel workers agree to pension cuts to save 8,000 jobs image
Source : Guardian [Read Article] Wednesday 15th of February 2017 03:01:00 PM
....Tata Steel had proposed saving 8,000 jobs in its UK business and the Port Talbot steelworks by investing £1bn in modernising its operations over the next 10 years. This investment depends on spinning off the pension fund into a separate entity and replacing the final salary pension scheme with a less generous contribution scheme. ...
Here's how being married still has its financial benefits image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 08:07:00 AM
....Married couples should automatically be in line for each other’s pension benefits when they die but cohabiting partners could miss out. Kay Ingram, chartered financial planner at retirement adviser LEBC, says pensions rules vary from scheme to scheme: “Cohabiting couples are not entitled to any benefits in some pension schemes. ...
The baby boomers have enjoyed the good times – now a tax hike is due | Phillip Inman image
....It means retired BT engineers, school headteachers and middle managers across a wide range of businesses from BP to Unilever, and not Britain’s 31 million workers, are the ones pushing up average income figures. This group of baby boomers worked for employers with generous guaranteed pension schemes and can now enjoy several holidays a year, a 4x4 in the driveway and provide a deposit for their grandchild’s first home. ...
Unite workers at BMW threaten action over plans to shut UK pension scheme image
Source : Guardian [Read Article] Monday 13th of February 2017 07:01:07 AM
. More than 7,000 BMW workers are threatening industrial action over the German carmaker’s plans to shut the final salary pension scheme. ...
Pensioners '£20 a week better off' on average than workers image
Source : Guardian [Read Article] Monday 13th of February 2017 12:01:00 AM
.... In contrast, the poorest fifth of households are almost entirely reliant on benefit income. The report for the Intergenerational Commission pointed out that closure of generous defined occupational pension schemes to younger workers means that the current generation of workers may not enjoy the same benefits when they are able to retire. ...
UK supreme court backs woman's right to receive late partner's pension image
Source : Guardian [Read Article] Wednesday 8th of February 2017 10:31:29 AM
....McMullan had worked for 15 years for Translink, which runs Northern Ireland’s public transport services. He had paid into Northern Ireland’s local government pension scheme. ...
Five minute guide to tracing your lost financial assets image
Source : Daily Express [Read Article] Sunday 5th of February 2017 01:57:00 PM
.... . Kate Smith, head of pensions at Aegon, says the launch of the auto-enrolment workplace pension scheme will worsen the problem: “Seven million more people are now saving into a pension, but many have lost track of some of their savings. ...
Steelworkers to vote on Port Talbot rescue plan image
Source : Guardian [Read Article] Sunday 29th of January 2017 02:08:58 PM
....Tata Steel has tabled a proposal to save 8,000 job in its UK business, including the Port Talbot steelworks in south Wales, by investing £1bn into modernising its operations over the next 10 years. However, this investment depends on spinning off the pension fund behind Tata Steel UK into a separate entity and replacing the final salary pension scheme with a less generous defined contribution scheme. ...
British Steel to reverse salary cut for workers agreed under Tata image
Source : Guardian [Read Article] Wednesday 25th of January 2017 06:41:37 PM
....Greybull bought the company after the UK steel industry had been under pressure for several years due to factors including a flood of cheap Chinese products on to the market, which sent prices tumbling. The crisis threatened the future of several major steelworks, including Tata-owned Port Talbot, whose staff are shortly due to vote on a cost-cutting plan that would see their final salary pension scheme closed. ...
Pension fund returns hit seven-year high amid Brexit vote image
Source : Daily Express [Read Article] Tuesday 24th of January 2017 04:39:00 PM
.... It marks the fifth consecutive year of positive pension fund growth - and the best returns since the 22 per cent seen in 2009. Moneyfacts said it is welcome news to those saving into employment based defined contribution pension schemes, as well as retirees who remain invested through income drawdown. ...
'There's a danger of a generation who can't afford to retire' image
Source : Guardian [Read Article] Monday 23rd of January 2017 08:05:59 AM
....”. It’s a perfect storm of problems: the end of the final-salary pension scheme, a failure of subsequent workers to save enough to account for this, and increasing life expectancy. ...
Is the FTSE heading for the crash of 2017? image
Source : Guardian [Read Article] Saturday 21st of January 2017 07:00:28 AM
....So what am I doing about the risk of the FTSE crashing? Zilch. Like the vast majority of Brits, my fortune is almost entirely wrapped up in a company pension scheme. ...
Hiring a carer for my mother was a huge learning curve, but help is available image
....When directly employing carers, you need employers’ liability insurance to cover you if one of your employees gets ill or injured because of their work. You will need written contracts with each PA, you must adhere to national living wage rules and you may need to put them into a pension scheme under auto-enrolment rules. ...
Wetherspoon ready for a comeback? image
Source : Guardian [Read Article] Sunday 15th of January 2017 07:00:09 AM
....Royal Mail staff will no doubt be soothed by those words as they study the group’s trading statement this week, which comes against the backdrop of a potential strike. The company has said it’s considering shutting its final salary pension scheme as, despite a huge surplus, the fund is supposedly running out of cash. ...
Generations at war image
Source : BBC [Read Article] Tuesday 10th of January 2017 12:14:35 AM
.... . Ian compares his daughter's circumstances with his own: "At 23 I was in a secure, big company job with a good pension scheme, I had bought my first modest house and I was paying off a mortgage, not student debt. ...
Workers at nuclear sites to be balloted image
Source : BBC [Read Article] Monday 9th of January 2017 02:05:52 PM
....The workers belong to four different trade unions and are mainly employed in decommissioning work. They are angry at plans by the Nuclear Decommissioning Agency (NDA) to reform their final-salary pension schemes. ...
Rising retirement age means that smart saving is more important than ever image
Source : Daily Express [Read Article] Sunday 8th of January 2017 12:01:00 AM
....Those who have already retired may be counting their blessings as they watch the younger generation either work to ever greater ages or fall by the wayside. Andrew Tully, pensions technical director at Retirement Advantage, says today’s workers need to start saving early and put aside as much as they can afford: “Take advantage of any company pension scheme, as your contributions will be topped up both by your employer and the Government. ...
Royal Mail enters talks with unions over pension change image
Source : BBC [Read Article] Thursday 5th of January 2017 01:20:50 PM
. Royal Mail has begun a consultation over changes to its pension scheme amid threats of strike action from unions. ...
Final salary pension deficit of biggest listed firms in UK 'hits £137bn' image
Source : Guardian [Read Article] Wednesday 4th of January 2017 05:32:53 PM
.... Added to this, economists have warned that inflation is likely to rise sharply in 2017, to around 3%. Le Roy van Zyl, a senior consultant at Mercer, said companies and pension scheme trustees faced “significant uncertainty”. ...
BHS liquidator pores over details of   Green and Chappell property deals image
Source : Guardian [Read Article] Monday 2nd of January 2017 04:16:53 PM
....FRP was brought in to be the joint administrator to BHS with Duff & Phelps – then the sole liquidator – by the Pension Protection fund, the biggest creditor. Green, who spent Christmas and new year in Florida, remains in talks with the Pensions Regulator about a settlement for the BHS pension scheme. ...
Post Office workers brand OBE for chief executive 'a disgrace' image
Source : Guardian [Read Article] Sunday 1st of January 2017 11:29:39 PM
.... Ninety-six per cent agreed the honour was “a disgrace”. Union members have staged strikes in recent weeks over job cuts, the closure of a final salary pension scheme and the franchising of crown post offices. ...
Observer business agenda’s review of the year image
Source : Guardian [Read Article] Sunday 1st of January 2017 09:00:02 AM
.... Both men were then hauled in front of a joint select committee to explain themselves, an exercise that only succeeded in trashing their reputations some more. The MPs found that the department store had been subjected to “systematic plunder” by former owners, while Green gave “insufficient priority” to the pension scheme. ...
Pension expert call for scrutiny over Sports Direct sale of Dunlop image
Source : Guardian [Read Article] Thursday 29th of December 2016 07:59:07 PM
....The regulator declined to comment on a specific case and said seeking clearance was a voluntary matter. MPs have called for the pension regulator to be given powers to veto takeover deals which put too much strain on pension schemes, among a raft of measures they believe could help avoid a rerun of the situation at retailer BHS, which collapsed in April and prompted recriminations about its £571m pension deficit. ...
South Korea pension fund head arrested in scandal probe image
Source : BBC [Read Article] Wednesday 28th of December 2016 06:21:02 AM
....Special prosecutors said they raided National Pension Service (NPS) chairman Moon Hyung-pyo's home on Monday, before arresting him on Wednesday. The NPS is the world's third-largest pension scheme. ...
BHS workers swamp Charles Dickens charity with help requests image
Source : Guardian [Read Article] Tuesday 27th of December 2016 05:53:33 PM
....BHS is the biggest high street retailer to enter administration since the failure of Woolworths in 2008 with the shutters coming down on all of its 170 stores. The collapse of BHS and the implications for its workers and pensioners has damaged the reputation of its former owner Sir Philip Green, who is being pursued by the Pensions Regulator to resolve the £571m hole in the bust retailer’s pension scheme. ...
Philip Green demands Dominic Chappell pays into BHS pension deal image
Source : Guardian [Read Article] Monday 26th of December 2016 03:16:29 PM
.... Chappell’s company Retail Acquisitions received payments of up to £25m from BHS despite owning the department store chain for just 13 months until it collapsed. Green promised to “sort” the problems facing the BHS pension scheme in June when he appeared in front of a parliamentary committee, but no deal has been forthcoming. ...
Pensions Regulator needs stronger powers, MPs say image
Source : BBC [Read Article] Wednesday 21st of December 2016 12:16:28 AM
. MPs have called for the Pensions Regulator to be given much stronger powers to thwart rogue employers who fail to support their pension schemes. ...
Sir Philip Green could face £1bn BHS fine under MPs' plan image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:00:02 AM
. Sir Philip Green may have to pay £1bn to resolve the problems facing the BHS pension scheme under proposals tabled by MPs. ...
Union leader says No 10 demonising working people in strikes row image
Source : Guardian [Read Article] Monday 19th of December 2016 05:54:12 PM
....Industrial action by Southern rail conductors in the RMT union and a continuing ban on overtime by drivers in the Aslef union were expected to cause further disruption for 300,000 passengers on Monday and Tuesday. Post Office staff who are members of the Communication Workers Union are striking for five days this week, including Christmas Eve, in protest at job losses, the closure of a final salary pension scheme and the franchising of crown post offices. ...
2016: the year Britain got (a little bit) richer image
Source : Guardian [Read Article] Saturday 17th of December 2016 07:00:15 AM
....Investment Isas had a boom yearStock markets soared in the wake of the Brexit result and the Trump victory, with the FTSE 100 index currently running 16% up over the year and the S&P 500 on Wall Street hitting a record high. Workers with defined contribution pension schemes will have seen the value of their savings increase, although pegged back by bond holdings where gains have been near invisible over the year, and negative recently. ...
Pensions Regulator fires BHS warning shot with £255m Coats Group deal image
Source : Guardian [Read Article] Friday 16th of December 2016 05:47:42 PM
....The Pensions Regulator (TPR) has fired a warning shot at Sir Philip Green by agreeing its biggest ever settlement with a private company in a case with similarities to BHS. Coats Group, one of the biggest manufacturers of sewing threads in the world, has agreed to pay more than £255m into its pension scheme after the regulator started legal proceedings against it. ...
Union calls on Post Office to join 'serious talks' to avoid strike image
Source : Guardian [Read Article] Tuesday 13th of December 2016 01:17:30 PM
.... Along with other cost-cutting proposals, the closures will lead to the loss of about 2,000 of its 6,600-strong workforce in crown branches, back office and cash handling. About half the Post Office’s total workforce is also being forced to shift from a final salary pension scheme to a defined contribution scheme, which unions say could cut retirement benefits by 30% or more in some cases. ...
Post Office workers to stage five days of strikes next week image
Source : Guardian [Read Article] Monday 12th of December 2016 07:09:07 PM
.... But the company said its understanding was that talks were due to resume this week and said it was “extremely disappointed” by the decision to walk out. Staff representatives and management are in dispute over the closure of a final salary pension scheme, job losses and the franchising of crown post offices, the larger branches that are usually on high streets. ...
Final salary pension schemes pivot to overseas stock markets image
Source : Guardian [Read Article] Thursday 8th of December 2016 07:46:12 PM
....5 million past and present final salary scheme members have become on returns from shares in US, continental and emerging market companies to generate a retirement income. The rapidly ageing membership of Britain’s guaranteed, defined benefit pension schemes has also forced a huge shift into government bonds as scheme trustees attempt to reduce the risk of their fund becoming insolvent. ...
Tata Steel jobs: regulator warns of pension hurdles image
Source : Guardian [Read Article] Thursday 8th of December 2016 05:31:07 PM
. The Pensions Regulator has warned there are still major hurdles to overcome to secure the future of Tata Steel’s UK pension scheme, which is pivotal for saving the Port Talbot steelworks in south Wales. ...
'Tough' year for final salary pensions image
Source : BBC [Read Article] Thursday 8th of December 2016 12:33:03 PM
. Conditions for final-salary pension schemes will be "tough" in 2017, a review of the sector suggests, with many simply "treading water". ...
Pfizer feels wrath of CMA for overcharging NHS | Nils Pratley image
Source : Guardian [Read Article] Wednesday 7th of December 2016 07:27:43 PM
....Instead, the forces behind an agreement that would see owner Tata Steel keep the twin blast furnaces running for at least five years are these: the improvement in global steel prices; the fall in sterling that has made the south Wales plant more competitive; dogged pressure from the trade unions; and Tata patriarch Ratan Tata’s wish for his company to be seen as a genuinely long-term investor and employer. Wednesday’s agreement hinges on a proposal to close the £15bn pension scheme to future accruals and offer workers a “competitive” defined contribution scheme instead. ...
Tata Steel agrees deal with union chiefs to save 8,000 UK jobs image
Source : Guardian [Read Article] Wednesday 7th of December 2016 04:02:21 PM
.... The Indian company is yet to confirm how it will fund their existing benefits – with the scheme at risk of entering the Pension Protection Fund, which would result in a 10% cut to members’ benefits. The British Steel pension scheme (BSPS) has liabilities of more than £15bn and 130,000 members. ...
Tata Steel: Unions close to deal to keep Port Talbot open image
Source : BBC [Read Article] Monday 5th of December 2016 03:46:50 PM
....The future of Tata plants has been in doubt since the UK business was put up for sale in March. The UK and Welsh governments offered financial support, but the company's pension scheme has been deterring potential buyers. ...
BHS placed into liquidation after pressure from biggest creditor image
Source : Guardian [Read Article] Friday 2nd of December 2016 05:20:38 PM
.... But it is thought that lawyers working for FRP Advisory, which is now in sole charge of the liquidation process, had demanded that the sum be returned from an escrow account at Green’s legal firm. The PPF, a government-backed lifeboat for troubled pension schemes, is the company’s biggest creditor and had rowed with Duff & Phelps over the next step for the failed business. ...
BT under increasing pressure from Ofcom to split from Openreach image
Source : Guardian [Read Article] Tuesday 29th of November 2016 08:22:15 AM
....“If Ofcom’s monitoring suggests that legal separation is not delivering sufficient benefits for the wider telecoms industry and its customers, we will return to the question of structural separation – fully breaking up the companies,” the regulator said. BT has repeatedly warned that separating Openreach from its business could have a major impact on its pension scheme, which has a deficit of £9. ...
Petition urges Philip Green to tackle BHS pension deficit image
Source : Guardian [Read Article] Tuesday 29th of November 2016 06:00:40 AM
. Former BHS workers and trade union representatives are to descend on the headquarters of Sir Philip Green’s retail business in an attempt to force him to fill the £571m deficit in the collapsed department store chain’s pension scheme. ...
Executive pay: Companies told to justify rates image
Source : BBC [Read Article] Tuesday 29th of November 2016 12:07:41 AM
....Will today's proposals succeed in changing the culture and practice of a corporate world perceived by the prime minister and others to be working for the few rather than the many?. The failure of BHS casts a long shadow over the corporate landscape and yet this Green Paper gives little emphasis on amplifying the voice of pension scheme members. ...
Post Office strike to disrupt Christmas mail, says union image
Source : BBC [Read Article] Monday 28th of November 2016 12:20:35 PM
....It will involve more than 700 managers. They will be joining a strike by the Communication Workers Union, which is in dispute over jobs, the franchising of Crown Post Offices and the closure of a final salary pension scheme. ...
Tata to sell UK speciality steels business in £100m deal image
Source : Guardian [Read Article] Monday 28th of November 2016 11:39:17 AM
.... Tata Steel is understood to be keen to keep the rest of the UK business, including the strip products arm based in Port Talbot, and is in talks with German company ThyssenKrupp about merging their European steel operations. However, it needs to agree with the UK government, the Pensions Regulator, and pension trustees about the future of the British Steel pension scheme, which has liabilities of £15bn. ...
OK, no workers in the boardroom: but May must be strong on executive pay image
Source : Guardian [Read Article] Sunday 27th of November 2016 07:00:53 AM
....Last week, the pensions regulator, already pursuing Green over the £571m pension black hole at the collapsed BHS, launched a probe into the £151m pension deficit at Arcadia. Green is not the only steward of a pension scheme with a big deficit as lifespans increase and robust financial returns are hard to find. ...
Post Office workers to strike for third time in four months image
Source : Guardian [Read Article] Friday 25th of November 2016 11:24:13 PM
....Members of the Communication Workers Union will walk out on Saturday, 3 December. The union is embroiled in a long-running row over the franchising of Crown post offices, the larger branches usually sited on high streets, job losses and the closure of a final salary pension scheme. ...
Tata set to commit to UK steel for the next decade image
Source : Guardian [Read Article] Friday 25th of November 2016 12:50:54 PM
....”. The future of Tata Steel UK’s pension scheme, the British Steel pension scheme, has been a major obstacle to the future of the business. ...
Sir Philip Green's yacht and other assets could be seized, says regulator image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 12:35:19 PM
. Sir Philip Green’s assets, including his £100m superyacht, could be seized by the courts if he refuses to comply with a legal demand to cover the £571m deficit in the BHS pension scheme, the chief executive of the Pensions Regulator (TPR) has said. ...
MP asks if Sir Philip Green’s yacht could be seized in BHS row image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:03:23 AM
....Green fuelled the anger over the demise of BHS, which he sold for just £1, when he was filmed over summer cruising the Mediterranean in his yacht Lionheart – reportedly worth £100m – while pensioners were left facing an uncertain future. In a letter to the committee, Titcomb disclosed TPR had been “monitoring” the pension scheme for another arm of Sir Philip’s retail empire – the Arcadia group, which includes Topshop, Dorothy Perkins and Miss Selfridge. ...
BHS pension: Frank Field asks if Philip Green's assets can be seized image
Source : BBC [Read Article] Tuesday 22nd of November 2016 10:13:23 PM
....BHS was left with a near-£600m deficit when the department store chain collapsed earlier this year. There have been reports that the billionaire has offered between £250m and £300m as part of a deal to restructure the collapsed retailer's pension scheme. ...
Pensions Regulator demands information from Sir Philip Green’s Arcadia image
Source : Guardian [Read Article] Tuesday 22nd of November 2016 07:46:56 PM
. The Pensions Regulator has expanded its examination of Sir Philip Green’s business empire by demanding information from Arcadia – the owner of Topshop, Dorothy Perkins and Miss Selfridge – about the state of its pension scheme. ...
Plant hire group Hewden collapses after Brexit warning image
Source : Guardian [Read Article] Tuesday 22nd of November 2016 04:52:46 PM
....6m loss. The company appears to operate two pension schemes – into which it said it intended to contribute £2. ...

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