Proposals to change the way public sector pension costs are calculated could raise employees' annual contribution rates by as much as £20bn, according to a Treasury discussion document

More than two-thirds of UK company pension schemes will be unable to take advantage of a change in the law that would have reduced their future payments to pensioners, a survey released on Wednesday will show

Government ministers will look at introducing legislation to close a loophole in pensions law that has left at least 40 members of a single scheme without a safety net to protect retirement promises after their employer became insolvent

Members of a UK company pension scheme have been left without a safety net after their employer became insolvent and trustees learned that a technical flaw in the current law means the scheme cannot be rescued by the Pension Protection Fund

The Treasury will shortly launch a consultation into the methods used to calculate public sector workers’ contributions to their pensions, the results of which are likely to require that employees contribute at least £3bn more per year than they pay now

Public sector pensions must move closer to adopting the methods used to calculate the value of private sector retirement benefits to help close the gap between the two, Lord Hutton's report is expected to recommend

Occupational pensions have substantially reduced the proportion of elderly households living in poverty since the early 1990s, according to official data

Trustees and administrators could face unlimited fines or up to two years in prison for breaching new sponsor investment rules, according to the National Association of Pension Funds (NAPF)

Alliance Boots said it has insured itself against any further possible costs associated with a portion of its final salary pension scheme, which it closed to further accruals at the end of June this year.

Proposals for sweeping changes to local government workers’ pension arrangements are to be unveiled on Tuesday by the country’s largest local authority pension provider.