Investment

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.

The UK is the only major developed nation where pension scheme deficits have worsened this year, Organisation for Economic Co-operation and Development figures show.

BNY Mellon Asset Management has completed the acquisition of Insight Investment Management from Lloyds Banking Group.

Stroud and Swindon is to close its defined benefit scheme to future accrual, the building society confirms.

Schemes hedged liabilities of more than £11.4bn during the third quarter of the year, analysis from F&C reveals.