US - The California Public Employees' Retirement System said it plans to divest from eight companies with ties to Sudan and Iran, removing all investment ties to the troubled countries.
The state had passed divestment laws for companies tied to Sudan in 2006 and Iran in 2007, but the officials at the fund were able to hold on to the shares if divesting would prove harmful to CalPERS' investments.
At one point, the fund had $2bn invested in these companies, but the amount has dwindled to $160m. CalPERS did not name the eight companies.
Investment committee chair George Diehr said: "We plan to mitigate and compensate for the cost of executing trades by implementing sales over time rather than precipitously. We also will use the sales of these company shares to adjust an allocation overweight in our Global Equity portfolio, and avoid the continuing engagement costs."
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.