Investment

AUSTRALIA - Australia's savings could grow by another billion dollars a year with the use of better back-office administration, former corporate regulator Jeremy Cooper has said.

Two pension funds of cleaning and hygiene products company, Jeyes, have appointed SEI as their fiduciary manager.

GLOBAL - BlackRock has restructured its management team creating a new head of portfolio management role, three new regional organisations and an alternatives investment group.

BlackRock has restructured its management team creating a new head of portfolio management role, three new regional organisations and an alternatives investment group.

The pension pot needed to satisfy the minimum income requirement could need to be as much as £300,000 in order to stop people falling back on state benefits, Towers Watson says.

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.