Including: US - New Jersey mulls deferred pension payments; NORWAY - Government to tap oil fund to beat recession; AUSTRALIA - Super funds hit by market turmoil
A Bill before the New Jersey state legislature may allow towns and school districts to defer some half a billion dollars of pension payments until 2012, despite strong opposition from unions.
Assemblyman Joseph Cryan, the Bill's sponsor, said the measures were the "least of many dismal options" facing the state. Other options include severe increases in property taxes or cuts in services.
NORWAY - Government to tap oil fund to beat recession
The Norwegian government announced a NOK20bn (US$2.9bn) fiscal stimulus plan using excess revenues from the Government Pension Fund - Global, commonly known as the Oil Fund, aimed at mitigating some of effects of the global economic downturn.
Part of the plan will include investment in infrastructure, the construction sector and corporate tax breaks.
AUSTRALIA - Super funds hit by market turmoil
Superannuation funds lost some AUS$200bn (US$132bn) between January and October last year, according to estimates by the Organisation for Economic Co-operation and Development (OECD).
The losses, which represent almost a quarter of the country's $1trn superannuation plan assets, have seen some individuals' super savings fall by 40-60%.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.