Swansea Council "unlawfully" transferred £20m from its pension scheme to balance its books when changing banks, according to the Wales Audit Office.
The auditor said council officers transferred the cash from the City and County of Swansea Pension Fund in April 2012 and the money was fully repaid in August. The council said this had been necessary...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.