News

The Pensions Advisory Service chief executive Marta Phillips OBE will step down from her role in the summer.

Outgoing Bank of England governor Sir Mervyn King said last night the pound is now "properly valued" in a move to halt its slide.

Investec Asset Management chief executive Hendrik du Toit, managing director of UK distribution David Aird and other senior employees are to acquire a 15% stake in the business for £180m.

F&C asset management has reported outflows of £13.3bn during the course of 2012, as it comes to the end of a significant restructuring under activist investor Edward Bramson.

Richard Favier OBE is to step down from his role as head of restructuring and insolvency at the Pension Protection Fund in July 2013.

Supermarket giant Morrisons has seen its two defined benefit schemes swing from surplus into deficit after lower returns on assets, its final results show.

Defined contribution schemes have serious defects which must be tackled by employers, government and the pensions industry to help address the nation's ageing population, an influential House of Lords committee warns.

Newspaper group Trinity Mirror has almost quadrupled the amount of de-risking insurance contracts it holds as discount rate falls increased its deficit, its final year results show.

Pensions Policy Institute director Niki Cleal will step down from her role after seven years in the position.

Total bulk annuity business in by the end of 2012 was £4.4bn, compared to £5.2bn in 2011, Aon Hewitt research shows.