Industry

Local Government Pension Scheme leaders and pension academics have called for a merger of 101 town hall pension funds into five standalone schemes to improve efficiency.

Standard Life has successfully sued its professional indemnity insurers for about £100m to recover losses related to its Pension Sterling Fund.

The Pensions Management Institute has been granted accredited body status by the Financial Services Authority.

F&C Asset Management has told investors it expects to take a £2.3bn hit to its assets under management this year when Friends Life withdraws money from its annuities business.

The Pension Protection Fund and The Pensions Regulator has published the sixth edition of the Purple Book, setting out risks posed to pension schemes.

Just one in 20 employers intends to use the National Employment Savings Trust for auto-enrolment, according to Punter Southall research.

Friends Life has launched its corporate platform - offering a range of pension and savings accounts to employees and a management information system for employers.

The Pension Protection Fund is set to move into absolute return strategies, asset backed securities and emerging market debt with the appointment of a specialist bond manager panel.

The Pensions Ombudsman has found in favour of Friends Life after a consumer had complained it misled him about the nature of its treatment of additional voluntary contributions.

The Pensions Management Institute has seen take-up of its Diploma in Employee Benefits and Retirement Savings soar to over 200 people since its launch in September.