US - A new study has reportedly predicted up to 75% of US corporate pension plans could be frozen or terminated within the next five years.
The findings from McKinsey&Company said the return of private defined benefit plans to health fund levels would rapidly boost the number of companies opting to freeze or terminate their plans from the current level of 25%.
The management consulting firm was also said to have warned looming accounting and regulatory changes would force plan sponsors to rapidly implement different approaches to portfolio construction.
McKinsey&Company said this could mean dominant money managers would compete with insurers and investment banks to meet their needs.
At least US$1trn of the $2.3trn now in private sector pension plans will be invested in different products and solutions by 2012, according to the study.
As a result, allocations to active domestic long-only equities are expected to drop by 67%, with long-duration fixed-income, hedge funds and private equity picking up the bulk of those losses.
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.