Regulation

IRELAND - The Pensions Board has agreed to extend the timeframe for defined benefit schemes to submit their funding proposals.

Two years on from official regulatory guidance on managing conflicts of interest the majority of small pension schemes are still falling short, a law firm warns.

The Pensions Regulator needs to focus its attention more on smaller schemes, delegates heard.

Regulator guidance on enhanced transfer value exercises could force trustees and sponsoring employers to collude on offer terms to meet compliance standards, Mercer say.

UK - The final salary link in public service pensions is 'inherently unfair' and can lead to high flyers getting almost twice as much back in pensions than those on more modest earnings for the same amount of pension contributions, Lord John Hutton says....

EUROPE - Strong returns on European long-term savings are being hampered by an expensive and "highly inefficient" pensions market, the European Fund and Asset Management Association (EFAMA) said.

UK/US - The Pensions Regulator's determinations panel has issued its reasons for chasing Lehman Brothers subsidiaries with a financial support direction.

The Pensions Regulator's determinations panel has issued its reasons for chasing Lehman Brothers subsidiaries with a financial support direction.

Nortel Networks and Lehman Brothers have joined forces to challenge The Pensions Regulator's ability to issue them with a financial support direction.

US - Marsh & McLennan, Mercer's parent company, has agreed to pay $4.75m to settle a suit brought by the Ohio attorney general alleging the firm conspired to eliminate competition in the commercial casualty insurance industry.