INCLUDING: US - CalSTRS' worst performance in six years; JAMAICA - C&W sells off real estate; UK- Ombudsman 'effective and necessary'
The California State Teachers' Retirement System (CalSTRS) told the Wall Street Journal the result was the worst it had received in six years resulting in AuM of $162bn in assets and unfunded liability of around $19bn.
Last year CalSTRS posted a 21% return on investments, adding $26bn to the fund which stood at $170bn at 30 June 2007.
JAMAICA - The Cable and Wireless (C&W) pension fund has put part of its real estate portfolio up for sale.
The fund has put three commercial properties in Kingston, reportedly worth JAM$2bn (US$20m), on the market.
A UK spokesman told Global Pensions the Jamaican arm of C&W ran a pension fund 'virtually independently' of the company, through local firm Prime Asset Management.
UK - Pensions Ombudsman 'effective and necessary'
Pensions Ombudsman, Tony King's first annual report and accounts showed the office "as playing an effective and necessary part in protecting and promoting confidence in private pensions".
The report found the office had made solid progress in reducing the age of cases in the system.
It also found for the third consecutive year the office had closed more cases than it had taken on.
The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).