Global

The £20bn Electricity Supply Pension Scheme (ESPS), the occupational scheme for UK electricity companies, has completed its portfolio reorganisation with the transfer of assets totalling £2.1bn to new management.

Financial mishaps in the asset management industry should remind trustees of the importance of risk reporting for their funds' portfolios, according to Steven Braudo, operations director of South African-based Investment Solutions (IS).

The £22bn UK Universities Superannuation Scheme has commissioned a report to assess the investment risks and opportunities of climate change.

International investment house Investec Asset Management has boosted its fixed income team with the appointment Keiron Nutbrown.

HSBC Bank has clinched a deal to provide stakeholder pensions service to Wm Morrison Supermarkets' 40,000 employees.

USAID, the United States Agency for International Development, is to start a search for custodians and investment managers for a new 401(K) retirement plan.

Major UK companies operating defined benefit pension schemes are finding this form of retirement provision to be a liability, according to Legal & General Investment Management.

A major factor in the decline of poverty among pensioners over recent years has been the increase in the number of people who retire with an occupational pension scheme, according to research by the UK's National Association of Pension Funds (NAPF).

The compulsory purchase of annuities at the age of 75 must be scrapped. This belief was expressed by a panel of UK industry experts who met at Skandia Life's recent Pathfinder Forum.

Invesco Pensions has won the contract to run the corporate stakeholder pension scheme for fast-food giant McDonald's Restaurants.