Defined Contribution

Professional Pensions senior correspondent Giovanni Legorano interviewed BT Pension Scheme pension director Kevin O'Boyle at the National Association of Pension Funds conference last month

US - The New York Times Co. will freeze its defined benefit plan for non-union employees and management at year-end in a move that will save the company over US$130m, the firm said in a Securities and Exchange Commission filing yesterday.

It would be a "huge wasted opportunity" should the crumbling political consensus lead to the abandonment of the 2012 pension reforms, the EEF says.

EEF head of employment policy David Yeandle talks to Jenna Towler about the rocky road of political consensus and how important it is for pension reforms to stay the course

SPAIN - Assets under management of pension funds falling under the individual system category decreased 0.63% during the month of October, data from research company VDOS Stochastics revealed.

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.