INCLUDING: UK - Rank buy out denial; MEXICO - Teachers protest; JAPAN - Y113m taken from public funds
The Telegraph reported that leisure firm Rank was considering selling off its £700m pension scheme by Christmas.
The paper quoted the names of potentially interested parties, but stated Rank had maintained there was no auction in progress.
MEXICO – Teachers protest
Signonsandiego reported that teachers took to the streets in Tijuana to protest about the government’s employee pension plan changes.
The website said the demonstrations lead to highway closures around the Mexico/US border area.
JAPAN – Y113m taken from public funds
The JapanTimes said the amount embezzled by government workers from pension benefits and other funds totalled Y113m (US$975,000) over a 12 year period.
The paper quoted a report by the government which began investigating the fraud in July 2007.
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.