Investment

The "vast majority" of schemes will pay more levy under rules laid down by the Pension Protection Fund last week, the National Association of Pension Funds says.

Police are investigating alleged fraudulent activity by former Rowanmoor Pensions joint managing director David Seaton, who died in September.

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.

The Financial Services Authority fears advisers and employee benefit consultations will switch group personal pensions around the market to continue receiving commission.

The UK's combined defined contribution pension savings have rebounded by more than £103bn since this time last year, Aon Consulting says.

Retirees who shop around are 50-times more likely to get an enhanced annuity than those who stay with their pension provider, a lobby group claims.

US/UNITED ARAB EMIRATES - The Abu Dhabi Investment Authority (ADIA) said it plans to fully "pursue its legal rights" as it looks to pull out of its 2007 investment in Citigroup or receive US$4bn in compensation.

GLOBAL - Fewer investors will employ active managers and will avoid high-fee products in 2010, Watson Wyatt predicted.

NETHERLANDS - De Nederlandsche Bank, the Dutch central bank, said it plans to improve the risk management functions at local pension funds after a review of the industry found schemes took on too much investment risk.

The Accountancy and Actuarial Discipline Board has launched an investigation into the conduct of an accountant in connection with matters related to the financial statements of Equitable Life Assurance Society in 1999.