Investment

UK - Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.

Giovanni Legorano speaks to Robert Gardner, co-founder and co-chief executive at Redington. Gardner takes us through some of the issues and opportunities pension funds are dealing with in the current market environment: inflation, the evolution of liability...

UK - The pension industry should engage more with people on how much they invest into their pension pot rather than focusing on the specific investment advice, industry figures said.

US - The average Swiss pension fund tipped over the 100% funding mark in the first quarter, up 10 percentage points from a year earlier, according to Swisscanto's Pension Fund Monitor.

PensionDCisions and FTSE Group have teamed up to created the first objective benchmark for the UK's defined contribution pensions market.

Advisers will be able to source whole of market enhanced annuity quotes for clients with the development of The Annuity Health Form from Annuity Exchange.

Partnership has launched an online solution to help advisers find the best annuities for clients retiring with funds below £30,000.

GLOBAL - Mergers and acquisitions (M&A) involving managers of alternative strategies grew to a record 50% of all global asset management transactions in the first quarter, data by Jefferies & Co.'s Financial Institutions Group revealed.

IRELAND - Bank of Ireland Plc may sell its asset management unit, a pensions business and ICS Building Society to win European Commission approval for a restructuring plan after a government bailout of the country's biggest lender.

US - AXA Rosenberg chairman Barr Rosenberg will take a 30-day leave of absence after company officials failed to disclose a coding error that disrupted the quant manager's investment model.