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 British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.