Including: US - CalSTRS re-elects Dillon; AUSTRALIA - Qantas boosts Super pot; UK - OSPARA teams up with PGD;
The US$113bn California State Teachers' Retirement System (CalSTRS) has re-elected Dana Dillon as chair and Jerilyn Harris as vice-chair for 2009-10.
Dana Dillon, has served on the board since 2004, and was vice-chair from 2005 to 2007. Harris has served on the CalSTRS board since 2005 and succeeded Dillon ass vice-chair in 2007.
Dillon said: "As strongly built as we are, CalSTRS can't help but be affected by the current severe economic times. While the storms don't impact the teachers' pensions, we are doing all we can to overcome these global challenges."
AUSTRALIA - Qantas boosts Super pot
Airline Qantas has announced a AUS$66m (US$47m) cash injection into its defined benefit (DB) pension plan over the next three years.
The DB scheme, which as assets of around A$5bn, said the move was necessary due to market declines which had impacted the funding status of the scheme.,
Qantas reiterated its support for the scheme and said the pension plan was in "a strong financial position, despite the challenging economic environment".
UK - OSPARA teams up with PGD
Consulting firm Optimum Strategic Portfolio Analysis & Research Associates (OSPARA) has partnered with PGD strategy to over mergers and acquisition and other finance advisory work.
OSPARA will continue to offer asset allocation and portfolio risk assessments while PGD will offer corporate finance advisory work like restructuring of investment processes, strategic fit evaluations and due diligence on M&A activity.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.