Defined Contribution

More than 1300 delegates have now registered to attend this year's Professional Pensions Show.

Calls for the greater use of the open market option back up the policy changes called for by the Pensions Income Choice Association, the body says.

MEXICO - Financial services group Profuturo is set to acquire Scotia Afore, the Mexican pension fund business of Canada's Bank of Nova Scotia.

About 1.8 million people are set to request to work after traditional retirement ages over the course of the next decade, Prudential research shows.

NETHERLANDS - Listed postal company TNT Post plans to ask staff to pay pension contributions for the first time as part of a cost cutting measure meant to avoid significant layoffs.

ITALY - Collective participants joining open Italian pension funds will now be able to nominate administrators, pension watchdog COVIP said.

NEW ZEALAND - Legislation allowing new Zealanders working in Australia to move their retirement savings back to their home country will be introduced into Parliament in the next two weeks, said minister of finance Bill English.

UNITED ARAB EMIRATES - Royal Bank of Canada has expanded its corporate pension trustee and administration business to the Middle East by bringing in two new hires in Dubai.

Friends Provident has unveiled a programme to encourage members to take a more active interest in their defined contribution scheme investments.

AUSTRALIA - The new chief executive of the Investment and Financial Services Association (IFSA) said the mandatory employer contribution rate should increase to 12% from 9%.