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But before we get carried away, there is little to suggest that these new savers will have the luxury of taking many planes in retirement, far less of splashing out on a Lamborghini – to recall Webb's remark that he was comfortable with the sweeping liberalisation of pensions rules this year that would leave people free to splurge their retirement cash on a sports car.
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Judge Chin awarded the pension plan $19.5 million for lost investment opportunity and for violation of pension rules against self-dealing.
"The relaxation of pension rules this month is likely to provide a further boost for the sector.
"We don't believe the wholesale reform of pension rules is necessary," Mr. Devine said in a conference call with securities analysts and the media.
Why privilege pensions over everything else holding that, on being hired, one acquires a vested right to the continuation of pension rules, but not a vested right in the future state of anything else?
One of Britain's most senior police officers has called for urgent reform of pension rules to allow bereaved widows to keep their police spouse's pension if they remarry or cohabit.
The parties have been given until the end of March to reach an agreement.In this section Sarkozy's testing year ahead Tax bonanza Shop-worn arguments Reprints Related items The euro area: Déjà vuJan 3rd 2008The coming months will also bring a broader review of pension rules.
Poor demand is typically blamed for this problem, but the interaction of pension rules and unemployment insurance may also play an important role in this outcome.
One of the biggest changes which came into force on Monday was the relaxation of pension rules, so that those with a defined contribution pension "pot" can take out as much as they like when they reach the age of 55.
That was made up of £21m to cover the cost of customers pulling their policies after receiving their demutualisation windfalls and £79m to cover lapses in pension policies because of changes to pension rules that came into force in April, known as A-day.
The brief era of simple pension rules may be over.
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