Standard Life shows strong quarter figures because of A-Day; Over a million workers struggling to find employment because of age; Trade Reporting System Threatens City Profits; Two hedge funds call for break-up of Dutch supermarket group

PETITIONS have been launched to force the government to provide compensation for the lost pensions of 125,000 scheme wind-up victims.

WORKERS must build up a pension pot worth £150,000 in order to have just a basic standard of living when they retire, EverInvestor claims.

THREADNEEDLE Investments has outsourced its investment operations function to JPMorgan Chase Bank.

STANDARD Life Investments has reported a 270pc increase in second quarter mutual fund sales.

US - State Street Global Advisors (SSgA) has lost an international equity index portfolio worth US$27bn with the California Public Employees' Retirement System (CalPERS) when the $208bn fund moved the entire portfolio in-house.

ITALY - Labour minister Cesare Damiano lay to rest rumours that the pension fund regulator (Covip) was due to be dismantled, saying it will continue to carry out its duties.

NETHERLANDS - The Stichting Pensioenfonds Campina has increased its fiduciary mandate with Goldman Sachs Asset Management by e600m to e1bn.

THE BRITISH Coal Staff Superannuation Scheme is set to retain JPMorgan Worldwide Securities as custodian of £8bn of its assets.

THE SOCIETY of Pension Consultants has revealed its programme of evening meetings for the period September to December.