AUSTRALIA - AustralianSuper has increased its assets under management by 20% (A$5bn) to A$25bn in the 8 months since its inception.
The fund, a merger between Superannuation Trust of Australia and Australian Retirement Fund on July 1 2006, said 60% its growth was achieved through increased investment returns, with the remainder made up of employer and member contributions.
Chief Executive Ian Silk said new employers joining the fund had shown significant growth with increases between 28% and 36% each month compared to the same month in the previous year.
“New members joining the fund has shown steady growth every month compared to the same month in the previous year. In addition member contributions to the fund have increased every month compared to the same month the year previous,” said Silk.
“In some instances the increase has been over 100%.”
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.