US - The introduction of new pension funding rules, part of changes in the Pension Protection Act (PPA) 2006, has been put back to 1 January 2009.
Section 430 specifies the minimum funding requirements that apply to single employer pension plans. Section 436 sets forth a series of limitation on the accrual and payment of benefits under an unfunded plan.
The government offices announced that none of the proposed funding regulations would be effective before the first plan year beginning on or after 1 January 2009, although employers can rely on these regulations during 2008.
For plan years beginning before 1 January 2009, employers have been told they can generally rely on a reasonable interpretation of the funding rules in the statute and may rely on the proposed regulations for this purpose.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
Jupiter Asset Management's Abbie Llewellyn-Waters, manager of the Jupiter Global Sustainable Equity strategy, explains why firms need to integrate ESG into their business model