SOUTH KOREA - The National Pension Service (NPS) has confirmed it is to invest almost US$22bn over the next ten years as it seeks to buy into energy and mineral resources.
It is understood that the NPS has entered into contracts with three of Korea's state-run energy and mineral developers to provide the necessary funds to invest in natural resource opportunities.
The NPS is interested in proven sources which will deliver stable and reliable returns rather than high-risk exploration of new fields.
Kim Ho-shick, president of the NPS, said to reporters in Seoul: "In the past the pension fund usually only invested in stocks and bonds, but this is not enough to generate the level of profits needed."
The Korean economy has one of the world's most advanced electronics industries, with companies such as Samsung and LG reliant on nickel and other minerals to manufacture hi-tech devices.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.