NORWAY - The Organisation for Economic Cooperation and Development (OECD) was amongst those warning Norway that yesterday's pension reforms would not alleviate unsustainable drains on the country's US$295bn fund.
Norway's pension fund, which is Europe’s largest, has benefited from Norway’s position as the world's third largest oil exporter, but last year it lost almost $1bn through inefficient management.
Prime minister Jens Stoltenberg’s coalition government reached a compromise with the opposition to ensure the reforms would stand the test of time with successive governments.
The new system will count all income when calculating payments and improve the deal for part time workers. Retirees will also be able to work without reducing their pension payments.
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.