US - The vast majority of large corporate pension plans are financially healthy, according to a survey by the Committee on Investment of Employee Benefit Assets (CIEBA).
The survey showed assets in both defined benefit (DB) and defined contribution (DC) plans increased during 2006 by 9% and 11% respectively.
Plan increases were explained by strong investment returns, however, 71% of DB plans sponsors contributed over $27bn to their plans.
DB plans had 68% more assets and paid out 53% more in benefits when compared with DC plans.
William Quinn, chairman of CIEBA, said: "This survey confirms that the massive changes in law adopted in 2006 were an overreaction to temporary conditions and that pension rules need to take into account the long-term nature of pension promises."
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.