US - Stricken automobile manufacturer Ford may be forced to make a US$4bn contribution to its pension scheme.
As a result, in a testimony to the US House Financial Services Committee, it said it may be forced to make an additional contribution of $3-4bn to its US pension scheme starting in 2010 if investment conditions did not improve.
Ford said it provided retirement benefits to some 207,000 retiree members of the United Auto Workers union, and 128,000 more salaried retirees.
The company has so far not had to resort to taking 'bail out' money from the US government, although it did not rule out the possibility.
In the statement, the company said government loans "could be used" if investment returns did not recover or continued to deteriorate, in order to support the funding status of its pension plans.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.