JAPAN - The Japanese government has finalised a bill to scrap the Social Insurance Agency which was at the centre of the country's pension scandal in 2004.
The government is also looking at other proposals which would see pension scheme members able to pay premiums by credit card in an effort to increase funds.
The bill would create a new pensions body in 2010 responsible for the collection of premiums and record keeping, but as many tasks as possible would be outsourced to private firms.
The new body would not be run by civil servants, but employees would be subject to the same criminal penalties as public sector workers.
The opposing Democratic Party of Japan is expected to present a counter-proposal that would see a new body take over the collection of fees and the National Tax Agency.
Collective defined contribution (CDC) savers should be allowed to access pension freedoms when the scheme is rolled out, last week's Pensions Buzz respondents said.
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The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.