INCLUDING: UK - Punter Southall's proposes plan for pension schemes to weather recession; UK - Fujitsu Services DB schemes awards equity mandate to Standard Life; US - Pioneer new appointment
Punter Southall proposed a five-point plan of actions designed to reduce the pressure on private sector defined benefit (DB) schemes, whose assets may now be over £200bn (US$291.2) less than a year ago.
The actuarial firm said direct assistance from government to pension schemes struggling to maintain their funding positions was the top priority going forward.
UK - Fujitsu Services DB schemes awards equity mandate to Standard Life
Fujitsu Services Common Investment Fund has selected Standard Life Investments to manage a UK Equity portfolio valued at around £90m (US$131.1m).
The assets will be managed within Standard Life Investments' Institutional UK Equity Select Pooled Pension Fund, which is managed by David Cumming, head of UK Equities.
US - Pioneer new appointment
Pioneer Investments has appointed Bill Taylor as head of relationship management and strategic alliances group in the US.
Taylor will be involved in aspects of Pioneer Investments' sales organization, including relationships with broker-dealers and corporate accounts. He reports to Joseph Kringdon, head of US retail distribution.
Taylor joins Pioneer Investments from Evergreen Investments, where he was president, managed assets and head of national broker dealer.
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
Smart Pension has taken on over 20,000 active members from the £20m Corpad Master Trust, following a strategic review by the ceding firm's trustees.
The Universities Superannuation Scheme (USS) allegedly obstructed a whistleblower as she tried to discover the true value of the deficit in its defined benefit (DB) section, according to reports.
The Cost Transparency Initiative (CTI) has launched a number of templates and guidance to help pension schemes deliver greater value for savers with enhanced disclosure of transaction cost information.