INDIA - The Employee's Provident Fund Organisation (EPFO) announced a 7% increase in assets in the nine months to the end of 2006, totalling R967.7bn (US$23.4bn).
A spokesman for India’s largest fund whose members numbered almost 43 million in 2006, said the fund had benefited from increasing levels of employment by steel makers to meet industry needs.
In terms of the portfolio breakdown, the fund invested 54% of assets in a domestic special deposit scheme, 18% in state-run company bonds, and around 26% in central and state government bonds, according to the government.
In January the member return rate of 9.5%, which had been held over three years, was also reduced to 8.5% by the government.
It explained this move was needed as returns would not be enough to cover liabilities.
This month, the fund's board of trustees are scheduled to set return rates for the next fiscal year.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers