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.
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.
Supermarket giant Asda's plans to reform its pensions have been decried as "unfair, unreasonable and unnecessary" as the workers' union began talks with the employer.
The Pensions Administration Standards Association (PASA) has launched a checklist to help trustees with the rectification process for guaranteed minimum pensions (GMP).