Employee Benefits

US - Securities and Exchange Commission (SEC) chairman Christopher Cox has called for improved disclosure of compensation awarded to directors, including retirement benefits.

UK - The pensions regulator has reminded insolvency practitioners of the ramifications of the 2004 Pensions Act, which gives the regulator the statutory role of appointing an independent trustee to a pension scheme where the employer enters insolvency....

CANADA - Ontarians have been told they can retire later but not sooner than 65, after new legislation eliminated the mandatory retirement age.

NEW YORK - Mercer HR today launched an integrated outsourcing offering for DB and DC plan sponsors called Mercer Retirement Solutions.

GLOBAL - Mercer Human Resource Consulting has broken up its international consulting team led by Giles Archibald.

UK - Manitou UK has appointed Alexander Forbes Financial Services to provide actuarial, administration and consultancy services to its DB pension scheme as it switches from DB to DC.

UK - The variability inherent in defined contribution pension plans is likely to fuel the growth of hybrid pension plans in the UK, according to Hewitt Associates.

NEW ZEALAND - Mercer Human Resource (HR) Consulting has bought Watson Wyatt's New Zealand business.

UK - Record numbers of British employees, more than 8.5 million people, believe that their employer does not offer a company pension scheme, new research from AXA claims.

UK - Brian Storms, global CEO of Mercer Human Resource Consulting is scouting the market for multi-manager acquisition targets. Mercer HR is currently in the process of rolling out its new investment management business, Mercer Global Investments.