Investment

A consultation on proposed changes to the Universities Superannuation Scheme is expected to start in late September, following the scheme committee's decision to accept a range of reforms.

UK - A consultation on proposed changes to the Universities Superannuation Scheme is expected to start in late September, following the scheme committee's decision to accept a range of reforms.

PERU - Peru's central bank will probably raise the limit on how much private pension funds can invest abroad to 30% from 28% "very soon," said Alejandro Perez-Reyes, investment manager at Peru's second- largest private pension fund AFP Prima.

The decline in retiree's pension pots and increasing life expectancy supports the need for an increase in the retirement age, Aon Consulting says.

US - The US Senate has approved the largest overhaul of financial regulation since the Great Depression, aimed at averting a repeat of the recent credit crisis.

US - Investment banking giant Goldman Sachs will pay a record US$550m fine to settle the SEC's fraud probe into mortgage-backed securities.

The California Public Employees' Retirement System (CalPERS) has recorded an 11.4% return in the year to June 30 despite a 37% fall in its property assets, preliminary estimates have revealed.

NETHERLANDS - Stichting Pensioenfonds ABP, the Netherlands' biggest pension fund, reported a return on investments of 4.6% in the first half of 2010.

The government is set to scrap the requirement to purchase an annuity and abolish alternatively secured pensions.

More pension schemes are adopting a dynamic de-risking approach and are seeking investment opportunities in social housing to meet liabilities, Redington says.