Investment

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.

The initial charges associated with the National Employment Savings Trust Corporation could be increased to help cover the £280m deficit incurred by the national scheme at launch, industry experts say.