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Pensions
UK Government considers changing ‘triple-lock’ pension increases to limit the UK…
Amid concerns over the state of the public finances, UK ministers may alter the "triple-lock" rule to increase state pensions by less than a 8.5 percent rise in earnings.
Officials have said that the government is looking at adjusting…
Ontario Teachers’ Fund acquires UK wealth management firm 7IM
Ontario Teachers' Pension Plan agreed to purchase UK wealth manager Seven Investment Management as one of Canada's largest investors bets in a sector which is rapidly consolidating.
OTPP has acquired 7IM from Caledonia Investments. 7IM…
Abrdn chief: Pension contributions must be doubled
The head of one of Britain’s largest fund managers called for a doubled minimum pension contribution from 8 percent of pay to 16.
Stephen Bird, Abrdn's chief executive, stated that millions of people are heading towards an inadequate…
UK seeks to improve employer access to pension surpluses
As part of a wider plan to stimulate economic growth, the government is looking at ways to make it easier to access surplus funds in pension schemes.
Employers and trustees of defined benefit schemes, also known as " final salaries",…
UK Pension Funds Agree To Invest 5% Of Assets In Startups
The UK government announced a deal between nine of Britain’s largest pension providers, to increase their investment in growth-oriented companies. It said that if other industry players follow suit, this could unlock £50billion…
Think-tank says UK needs pension “superfunds” to drive business investments
A leading think tank has said that Britain should overhaul its pension system in order to create "superfunds", which can control large companies and encourage business investment.
According to economists, the UK's long-term decline of…
Tony Blair Institute proposes radical UK pension superfunds
Under "extremely radical proposals", tens and tens billions in UK business growth could be unleashed by pooling together pension funds from the public and private sectors. Each "GB superfund" would have assets up to £500bn.
The Tony…
Minister: UK retirement age will need to be raised after the election
Mel Stride has said that ministers must "grasp" the nettle and bring forward the increase in state pension age from 66 to 68 within the first two years of the new parliament.
Stride explained that he had delayed the decision due to the…
UK Employers Seek to Reduce Pension Scheme Contributions Following Windfall from Interest Rates
Employers in the UK are pushing to suspend pension contributions that amount to tens and tens millions of pounds, after retirement schemes have experienced unexpected surpluses.