Pension reform: the facts so far

Article Abstract:

The United Kingdom government is carrying out a review of pensions and is considering setting up a stakeholder scheme in addition to existing schemes. There may also be an affluence test which could mean that richer people may no longer be able to obtain basic state pensions. Stakeholder pensions are intended to be simple, low-cost schemes, and may offer better value than personal pension schemes, though they may not offer as much as company schemes. Stakeholder pensions are likely to be introduced by 2002.

Social policy, Welfare reform

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Divorcees to do the pension splits

Article Abstract:

Changes in United Kingdom pension law could mean that wives have rights to a husband's pension fund on divorce. Wives are allowed a bigger share of non pension assets, or can have part of a pension, but have to wait until the ex-husband retires and lose the pension when he dies. The change in the law is needed to give independence to ex-wives, but there are problems over valuing a fund, and public sector workers could be excluded, as will people divorcing prior to the law being implemented.

Divorce

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The pension revolution

Article Abstract:

United Kingdom companies are changing their pension provision for employees and money purchase schemes are increasingly replacing final salary schemes. This means that the companies can benefit from reducing liabilities and volatility of funding. Group personal pensions may be used by smaller companies, and employees may be offered different contribution levels according to seniority. New staff may be given money purchase schemes with existing staff in final salary schemes.

Corporations, Corporate finance

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