RUSSIA - A new fund has been created to support Russia's pension systems, the country's finance ministry has announced.
The creation of the fund, along with a Reserve Fund, was the result of splitting the $157.4bn Stabilisation Fund.
Pyotr Kazakevich, a finance ministry official, reportedly told journalists in Moscow: "The Reserve Fund is mainly an investment fund. It will finance the budget if necessary and it can be used to pay back debts.
"The National Welfare Fund is to support the country's pension system."
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.
Welplan Pensions has triggered its exit from the master trust market, with just a few days to go until The Pensions Regulator's (TPR) application deadline.