Canada - Department store Sears Canada is to slash retirement benefits in a move that will save the company an estimated C$25m in the second half of 2008.
Post-retirement medical, dental and life-insurance benefits will no longer be available to employees who do not meet the company’s criteria by December 31, 2008, the firm said.. A defined contribution...
AMERICAS- S&P Indices has launched its first in a series of indices designed to measure the performance of the Chilean, Columbian and Peruvian stock exchanges.
LATIN AMERICA - Dutch firm ING Groep has agreed to sell its Latin America pension and life insurance business for €2.7bn ($4bn) to Colombian firm Grupo de Inversiones Suramericana (GRUPOSURA).
GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.
PUERTO RICO - Puerto Rico's A3 general-obligation debt rating is under review for a possible downgrade because of pension strains, Moody's Investors Service said.
LATIN AMERICA - Assets in Latin American pension and mutual funds will hit $1.4trn over the next five years, with Chile emerging as the most attractive market for asset managers, a new report shows.