Investment

Conflict of interest faced by pensions managers is a critical issue which must be addressed but can be dealt with effectively, delegates heard.

GlaxoSmithKline trustees have agreed a £900m buy-in deal with Prudential.

BNY Mellon Asset Management has launched the Evolution Global Strategic Bond Fund.

Long-term low interest rates are damaging pensions and will cause another financial crash, Ros Altmann warns.

Risk transfer deals are expected to be well in excess of £1bn in the fourth quarter on the back of improved market conditions and indexation changes, industry experts say.

US - The California Public Employees' Retirement System (CalPERS) has refused to pay pensions based on recent compensation set for a number of City of Bell employees.

Plans by the European Union to introduce Solvency II rules to the pensions industry run the risk of undermining pension provision rather than strengthening it, industry bodies have warned.

NEST has confirmed its long-term administration contract with Tata Consultancy Services.

Mercer has restructured its investments and retirement businesses and appointed Andrew Kirton to the new role of global chief investment officer.

EUROPE - Cross-border passporting of schemes should be allowed between EU countries with similar social and labour law and pension systems, the Society of Pension Consultants says.