AFRICA/DENMARK - The DKK440bn (US$92bn) ATP fund has confirmed it is considering divesting from mining firm Anglo American over its continuing activity in Zimbabwe.
The spokesperson was also unable to give an exact figure as to the size of the fund's investment in Anglo American.
In a statement, Anglo American said it had been an investor in Zimbabwe for over 60 years and was "deeply concerned about the current political situation in Zimbabwe". It also said the company condemned the violence and human rights abuses which were taking place.
It said the Unki platinum mine project was "a long term investment for a mine which is yet to start production and will not generate revenues for some years" although it was monitoring the situation and "reviewing all options" surrounding the development of the project.
In South Africa, the finance minister Trevor Manuel dismissed rumours of an impending nationalisation of pension savings as "reckless, impossible and unconstitutional".
Rumours of a possible nationalisation appeared in South Africa earlier this year, following the announcement of retirement fund reform in February.
Manuel said there had been reports of workers withdrawing all their pension savings ahead of a possible privatisation.
The minister said he and trade unions would start an education tour to inform workers how best to plan for retirement.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).