Fighting for pension cash

Article Abstract:

A court case involving the pension surplus of National Bus prior to privatization could affect pension levels for members of UK company pension schemes. The UK Department of Transport faces legal action from lawyers representing members of the National Bus pension scheme who argue that the UK government should pay compensation for withdrawing funds from the scheme. Pension fund surpluses are sometimes paid out as higher pensions. Companies may take contribution breaks when surpluses occur. They argue that they should benefit from supluses because they take the risk, while employees argue that workers should benefit from surpluses.

Laws, regulations and rules, Defined benefit plans

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Minimum interest

Article Abstract:

Employers providing occupational pension schemes in the United Kingdom face increasing difficulties as a result of government policies such as the minimum funding requirement (MFR). The end of ACT credit also poses problems, and both measures mean that managing occupational pension schemes has become riskier and more expensive. The ACT change involves a tax that affects that value of pensions unless contributions are increased. MFR changes involve a move to bonds which can lead to a move away from UK equities.

Taxation, Pensions

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