Wake up to the pension time-bomb

Article Abstract:

There are still very large numbers of people in the UK who have made no financial provision at all for their retirement. The UK government is hoping to reverse this trend, and will encourage everybody to have a second pension, known as a stakeholder pension. Some 11 million employees belong to company pension schemes, the best of which pay out a pension equal to two-thirds of final salary after 40 years of service. For those not in a company pension scheme, it is best to seek help from an independent financial adviser.

Social policy

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Ambushed by pension rules: staff face new scheme that's likely to cut your income in old age

Article Abstract:

An increasing number of UK firms are making changes to their pension schemes, moving from a defined benefit structure to a defined contribution one. Under this arrangement, firms will no longer make a commitment to paying a specified proportion of employees' salaries as their pensions.

United Kingdom, Personnel administration, Analysis, Defined contribution plans

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Pensions adjust to the grim reality of a market downturn

Article Abstract:

The stock market slump in 2000 has had a negative impact on pension funds, which have lost an average 10% of their value. Pension funds now face significant challenges as they seek to attract new customers.

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