US - The Chicago Board of Education has claimed the state is acting unconstitutionally in contributing more into the statewide Teachers' Retirement System, compared to the Chicago teachers pension fund.
According to reports, Chicago received US$75m of contributions from the state into its pension fund last year, compared to the Teachers' Retirement System which received $738m of contributions.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.