Investment

Transport for London has asked the High Court to launch a judicial review into a £9m levy it was ordered to pay by the Pension Protection Fund.

The total deficit in the pension schemes of FTSE100 firms fell to £64bn over the past three months, latest research from Pension Capital Strategies reveals.

Aviva's life and pension sales fell 11% in the first nine months of 2009, but the insurer says it has made significant improvements to its capital position.

UNITED ARAB EMIRATES - Royal Bank of Canada has expanded its corporate pension trustee and administration business to the Middle East by bringing in two new hires in Dubai.

Legal & General has reported a 7% fall in new business over the first nine months of the year.

Friends Provident has unveiled a programme to encourage members to take a more active interest in their defined contribution scheme investments.

No disagreement here. Every plan sponsor surveyed in the Global Pensions 100 Panel supports the decision by New York state attorney general Andrew Cuomo to create a 13-person board of trustees for the state's pension scheme.

AUSTRALIA - The new chief executive of the Investment and Financial Services Association (IFSA) said the mandatory employer contribution rate should increase to 12% from 9%.

UK - Schemes hedged liabilities of more than £11.4bn (US$18.6bn) during the third quarter of the year, analysis from F&C revealed.

Last week the government launched a pilot programme to offer children as young as seven careers guidance.