Investment

The Pensions Regulator has issued a Financial Support Direction against companies in the Nortel group requiring them to provide support for the UK scheme, which had a £2.1bn shortfall on a buyout basis.

The Financial Services Authority has fined Gateshead-based IFA N-Hanced £21,000 for exposing their customers to the risk of receiving poor advice about switching their pension.

The anti-avoidance regulations proposed by the government in the budget will increase the use of pension alternatives, providers say.

Concern that The Pension Regulator is ‘directing' rather than ‘guiding' through its guidance is increasing within the industry, participants say.

Alliance Boots employees will be given extra time to reapply for a new defined contribution pension scheme after the firm refused to allow members to "reserve rights" as part of the joining process.

NETHERLANDS - Dutch pension experts question whether the interbank swap yield curve is the best rate to discount liabilities against, Giovanni Legorano and Raquel Pichardo-Allison report.

The European Commission has launched a Green Paper reopening the issue of solvency standards in pension schemes.

EUROPE - The European Commission has launched a Green Paper reopening the issue of solvency standards in pension schemes.

The UK should look at the Chilean retirement system's multi-fund structure as it develops the default fund set-up for NEST, Organisation for Economic Co-Operation and Development principal economist Pablo Antolin-Nicolas says.

GLOBAL - BNY Mellon Asset Servicing has launched a new Global Financial Institutions (GFI) group to support clients within in the banking, mutual fund and insurance sectors.