UK - North Yorkshire County Council has placed two mandates out to tender, worth over £300m (US$589m).
As Global Pensions reported in March (www.globalpensions.com; 26 March 2008), North Yorkshire CC dropped BGI as investment manager for its global equities mandate because of concerns over disappointing results.
The equities mandate will run for 6six years, with the potential to be extended for a further three years.
The fund is divided 77% equities and 23% bonds, although it is not yet clear whether the allocation to property represents a new area for the scheme.
North Yorkshire CC was unavailable for comment.
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.