CHINA - China's former finance minister Xiang Huaicheng has been appointed chairman of China's Rmb124bn (US$15bn) National Security Fund Council, according to reports.
Former deputy head of the China Securities Regulatory Commission, Gao Xiqing, has also been hired deputy head of the fund.
The Financial Times says both Xiang and Gao will now focus on tackling China's huge pensions deficit with the country's unfunded pension liabilities estimated at more than 50% of GDP. It is hoped they will help reduce the state sector debt burden. The fund is expected to strengthen donations from the sales of state-owned company assets and diversifying its portfolio to international stock investments. Asset sales are expected receive a boost once the new State Asset Management Commission gets running.
A suite of liability driven investment (LDI) indices has been launched by STOXX and RiskFirst to aid trustees and consultants select, monitor and challenge managers.
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Bank of England governor Mark Carney has said there is still a lot of data to consider before the Monetary Policy Committee (MPC) can decide when to next hike interest rates.
Savers are not squandering their tax-free lump sums under Freedom and Choice but are taking a more cautious approach to retirement, according to Prudential research.