Investment

OCR has secured a buyout with Metlife Assurance for its £11m RSA Examinations Board Retirement Benefits Scheme.

Standard Life Investments has appointed John Devine to its board as a non-executive director.

FTSE350 scheme deficits have remained virtually unchanged since 2002 while FTSE100 longevity assumptions have increased for the sixth year running, Mercer says.

The Welsh Assembly Members' scheme will not be reformed as a defined contribution arrangement due to fears this would dissuade "high quality" candidates standing for election.

The use of asset-backed contributions to fund schemes will double over the next three years after HM Revenue and Customs clarified its stance on the arrangements, says Deloitte.

Professional Pensions asks some of the leading providers in the fiduciary management space about this form of investment governance.

Falls in gilt yields - driven both by quantitative easing and investor demand for ‘safe haven assets' - have contributed to pension scheme liabilities and deficits rising to near record levels.

Axa Investment Management has urged the Financial Services Authority to strengthen LIBOR standards rather than scrapping the rate altogether and risk damaging pension schemes.

The Pensions Action Group and a communications consultant has criticised the timing and messages of the Department for Work and Pensions' auto-enrolment TV campaign.

The LIBOR system is "broken and needs a complete overhaul", according to Financial Services Authority's head of conduct Martin Wheatley.