FRANCE - The €35bn (US$53.7bn) Fonds de reserve pour les retraites (FRR), France's reserve retirement fund, has announced it has dropped two mandates due to "poor financial performance".
Recently released performance results show the fund to be down 8.4% over the year to date, but has delivered an annualised net performance of 5.7% since its inception in 2004.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.