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.
Former home secretary Amber Rudd is to return to the cabinet as work and pensions secretary after the resignation of Esther McVey.
This week's top stories included proposed draft regulations in a no-deal Brexit which would make scheme investments illegal, and Esther McVey's resignation as secretary of state.
There have been a total of 15 ministers responsible for pensions since 1997. Here is the list in full.