Investment

Scheme managers are split over whether the retirement age should be increased to 70.

Employers seeking to reduce costs should consider explicitly targeting employee benefits in a bid to mitigate the unintended consequences of pay cuts on pensions, a HSBC Actuaries and Consultants report says.

UK - Reforms introducing auto-enrolment, employer duties and personal accounts will be staged in over a three year period from 2012, the department for work and pensions said.

US - New York State comptroller Thomas DiNapoli has prohibited New York State Common Retirement Fund (CRF) from doing business with any investment adviser who made a political contribution to the state comptroller or a candidate for state comptroller....

NEW ZEALAND - The Government Superannuation Fund (GSF) in New Zealand saw its deficit jump 123% in the year ended June 30, the scheme said today.

Most employees expect to delay their retirement as a result of the recession, Aon Consulting research reveals.

Three-fifths of employers are set to review their pension arrangements ahead of the introduction of auto-enrolment and personal accounts from 2012, latest research from the Association of Consulting Actuaries reveals.

Reforms introducing auto-enrolment, employer duties and personal accounts will be staged in over a three year period from 2012, the department for work and pensions says.

The government is considering starting the personal accounts trustee corporation early in a bid to prepare for the 2012 reforms.

INDIA - The board of the Pension Regulatory Fund Development Authority (PFRDA) yesterday approved a proposal to manage companies' pension pots, said executive director Rani Nair.