Year in review

As Global Pensions prepares to wind down, we take a look at the ten most popular news stories in the past year. In a reflection of the times, our coverage of Italy’s pension reforms topped the list, followed by coverage of Nortel’s Canadian buyout and news of a transition management scandal.

Italy raises retirement age by three years

ITALY - The Italian government has raised the retirement age by three years as part of sweeping austerity measures.

Video: Nortel paved path for buyouts across Canada

UK/ CANADA - Last week's passage of the Ontario budget gave approval for the Nortel pension plan to put through what could be North America's first pension buyout. Ronald Olsen, vice president at Sibson Consulting, who assisted the plan with its proposal, said receiving legislative approval has opened the door for a wave of buyouts across the country.

Ivaldi Capital launches investment platform for schemes

GLOBAL - A group of former Citi employees has launched a firm to help pension funds access alpha-generating investments.

State Street pays back client after double charging for transitions

UK - State Street was forced to reimburse a client for a transition management trade after an internal investigation, which led to the dismissal and possible dismissal of senior transition managers Ross Mclellan and Edward Pennings, found the client had been double charged on fees.

Fidelity's Greer dies in kayaking accident

US - Boyce Greer, head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors, died on Sunday in a kayaking accident in Idaho.

IASB publishes ‘near final' draft of IAS19

GLOBAL - The International Accounting Standards Board has published a "near final" draft of its revised pension accounting standard IAS19 - confirming key changes that could see billions wiped off company profits.

Mercer appoints Kirton to new global CIO slot

GLOBAL - Mercer has reshuffled its top ranks and moved Andrew Kirton to the new role of global chief investment officer.

LDI ‘fundamentally misconceived' - report

UK - Liability-driven investment is "fundamentally misconceived" because it hedges low interest rates which in fact increase corporate profitability, a radical report finds.

Illinois may seek federal guarantee of pension bonds

US - Illinois, which plans to sell $3.7bn of pension bonds next week, may seek a federal guarantee on retirement-system debts if its unfunded liabilities can't be eliminated, according to budget documents.

Pensions levy's 'devastating impact' on Irish market

IRELAND - The Government's controversial pensions levy has had a "devastating impact" on the country's pension system, Irish Life & Permanent chief executive, retail, Gerry Hassett has claimed.