US - Collapsed hedge fund Amaranth has repaid US$48.2m to the San Diego County Employees' Retirement Association (SDCERA), with further payments expected.
The US$7.7bn SDCERA invested $175m in the hedge fund, which lost billions of dollars in days following bad bets on natural gas. Estimates as to how much the pension fund stood to lose varied between $60m to $100m, but the latest estimates have stated the amount at close to $85m.
Following Amaranth's collapse, SDCERA hired law firm Bernstein Litowitz Berger & Grossman to investigate whether to sue.
Amaranth is currently liquidating all its holdings and paying off investors, and has told SDCERA further payments would likely be made.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.
Engagement in pensions is rising but there are still a number of barriers to overcome. Natanje Holt looks at the key issues that need to be tackled