Investment

Defined contribution scheme members approaching retirement whose pots are near the lifetime allowance face a conflicting investment decision to best protect future income, Aon Hewitt says.

Some 40 members of a scheme whose employer became insolvent may not be covered by the Pension Protection Fund, due to a technicality in the Pensions Act 2004, Ros Altmann says.

US - State Street plans to cut 1,400 employees, or 5% of its total workforce, with staff in North America taking the brunt of the cull.

The heavily criticised judgment on compromise agreements in the IMG case has been overturned by the Court of Appeal.

UK/NETHERLANDS - The number of pension plans adopting liability driven investing strategies has remained robust over the past year, with schemes in the UK and Netherlands leading the way, SEI says.

The number of pension plans adopting liability driven investing strategies has remained robust over the past year, with schemes in the UK and Netherlands leading the way, SEI says.

US - Pay practices at major Wall Street banks likely helped drive excessive risk-taking by executives and brought financial markets to the brink of collapse in 2008, a report claims.

UK - Transfers from contracted out defined benefit schemes to non-contracted out schemes will be permitted following a government rethink.

US - The US government is considering introducing new rules to ensure workers have a better understanding of target date retirement funds.

Institutional investors appetite for sustainable investment is significant but many still wrongly defined green investing and socially responsible investment, a European survey says.