PORTUGAL - The Portuguese banking system was "more than usually" exposed to equity price risk through employee pension funds, an IMF report showed.

LESS THAN half of young workers expect an occupational pension scheme to be among their main sources of income in retirement, new research reveals.

US - The US$7.7bn San Diego County Employees Retirement Association (SDCERA) has terminated its agreement with Rocaton Investment Advisors, which recommended the fund invest $175m in Amaranth Advisors.

UK - Fund manager Governance for Owners (GO) has signed up to the Enhanced Analytics Initiative as a full member.

ANNUITY rates could plummet as more people with small savings take their pension as a cash lump sum, Standard Life claims.

‘Quick-fix' solutions to blame for DC switch mess, not consultants

AROUND 700 staff members at the department for work and pensions will be transferred to a private company as part of a modernisation programme.

Sales tipped to fall

A CLUTCH of European property funds - worth a combined billion euros - could provide UK fund-of-funds with a rich source of assets as they wind-up in 2007, Schroder Property says.

Running a national pension savings scheme at a cost of 0.3pc will not be achieved "for years, if at all", Australian senator Nick Sherry has warned.