INCLUDING: - AUSTRALIA - Super returns outclass, GLOBAL - IASB ruling, GREECE - Bond investigator...
AUSTRALIA – Super returns outclass
Superannuation funds are reportedly poised to deliver their best returns in a decade, according to research company SuperRatings, which predicted around a 5% return after fees and taxes this financial year.
The average fund’s five year return is now over 10%, making up for losses between 2001 and 2003.
GLOBAL - IASB ruling
New rules on interpreting the international pension accounting standard IAS19 have been outlined by the International Accounting Standards Board.
The rules, to be defined in July, could limit the level of pension fund surplus that may be shown on company balance sheets.
The rules would take effect for accounting years beginning after January 2008.
GREECE – Bond investigator
A prosecutor has been appointed to investigate the bond overpricing scandal.
Preliminary reports stated that up to 20 people could face charges.
US – New SSgA BRIC ETF
State Street Global Advisors (SSgA) has launched a BRIC exchange traded fund (ETF) on the American Stock Exchange (Amex).
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).