Defined contribution members risk dramatic fluctuations in retirement income unless they adopt default strategies that reduce the impact of market shocks, a global body warns.

GLOBAL - Defined contribution members risk dramatic fluctuations in retirement income unless they adopt default strategies that reduce the impact of market shocks, the global body warned.

US fraudster Bernie Madoff has mocked the investors he swindled out of $65bn, which indirectly included many institutions such as pension funds, reportedly saying he "carried them" for 20 years.

Sponsoring employers doubled the use of diversified growth funds last year as they looked to de-risk their final salary schemes, Aon Consulting research shows.

The £700m BG Pension Scheme has chosen Hymans Robertson as its investment adviser.

Default funds are the "healthy choice" for savers but not all the investment options being used adequately cater for members needs, AllianceBernstein says.

The European Commission has launched a public consultation on a Green Paper looking at reforming corporate governance in financial institutions.

EUROPE - The European Commission has launched a public consultation on a Green Paper looking at reforming corporate governance in financial institutions.

The financial crisis remains a threat to global stability despite the intervention by Euro policymakers, Towers Watson says.

GLOBAL - The financial crisis remains a threat to global stability despite the intervention by Euro policymakers, Towers Watson said.