Investment

EUROPE/CENTRAL ASIA - Pension funds in Europe and Central Asia should provide pension increases in line with cost of living indexes instead of wages to make the systems more sustainable, the World Bank said.

AUSTRALIA - Total estimated assets held by superannuation funds grew by A$114.5bn (US$104.7bn) to a total of A$1.2trn, an increase of 10.6%, data by the Australian Prudential Regulation Authority (APRA) revealed.

US - Moody's Investors Services has downgraded the long-term credit ratings of the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS) citing severe losses in assets.

The registration process for the UK Pensions Awards 2010 has now closed.

Defined contribution schemes could see total assets in excess of £1trn by 2019, a report from Spence Johnson reveals.

UK - A ruling by the UK High Court yesterday has limited the occasions in which employer debts are triggered in a multi-employer scheme.

A ruling by the High Court yesterday has limited the occasions in which employer debts are triggered in a multi-employer scheme.

UK - Alistair Darling's proposals to reform public sector pensions cover up a 45% hike in costs next year, independent pensions consultant Ros Altmann warned.

The Pension Protection Fund took on three more schemes last month resulting in an additional 275 people becoming eligible for compensation from the fund.

The Association of British Insurers is set to tackle the issue of at-retirement apathy with the launch of updated "wake up" packs for savers approaching retirement.