US - Retirement funds have a significant impact on their local economies, according to a study of investments held by the Retirement Systems of Alabama (RSA).
Between 2002 and 2008, capital expenditures in these investments totalled $854.3m, with operating expenditures of $1.6bn, including $245.4m of payroll for over 5,800 workers.
During the same period, the study found the £854m in capital expenditure had a state-wide impact of $1.9bn in output, over $620m in earnings for Alabaman households and was directly or indirectly party to almost 20,000 jobs.
Sales taxes earned through the wider effects of these investments totalled more than $85m.
Although benefit payments were not included in the study, indirect effects of RSA investments accounted for some $3.3bn of state output, or 2% of the state's 2007 GDP.
A 'crisis summit' on the economic environment held by leading Texan investors in December, including the Texas Teachers' Retirement System (TRS), found pension plans had a significant impact on local economies, with $1.83 of retiree spending for every dollar of benefits paid (Globalpensions.com; 9 December 2008).
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.