INCLUDING - UK - HBOS keeps Watson Wyatt, JAPAN - Sales tax targeted for pension, GERMANY - Fin heads to Franklin Templeton
UK – HBOS keeps Watson Wyatt
Watson Wyatt has retained their contract as actuary and adviser to the Halifax Bank of Scotland (HBOS) pension scheme.
The final salary scheme, which is closed to new members, has £6bn assets under management and caters for over 80,000 staff.
JAPAN – Sales tax targeted for pension
The government may use sales tax to bolster basic pension provision, according to reports from Tokyo.
Sources within the ruling party have said it may be the best choice to fund the country’s pension debt.
GERMANY – Fin heads to Franklin Templeton
Former State Pension Fund of Finland investment manager, Ilkka Tomperi, has joined Franklin Templeton Real Estate Advisers as vice president of private real estate.
Tomperi is to be based in Frankfurt.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.