News

US - Telecommunications companies AT&T and Verizon Communications could face increased pension payments next year as their liabilities soar to a combined $73.2bn, according to an analyst note from Bernstein Research, a unit of AllianceBernstein.

UK/Europe - The European Commission plans to adopt a "holistic balance sheet" approach to scheme funding rules which will treat sponsor covenants as assets, a consultation reveals.

CANADA/US - Teachers' Private Capital, a unit of the C$107.5bn ($106.4bn) Ontario Teachers' Pension Plan, and the $37.3bn Teachers' Retirement System of the State of Illinois have made equity investments to finance company NXT Capital.

Unions challenging the government's switch of inflation measures for up-rating public sector pensions in the High Court are arguing the move contravenes the Human Rights Acts.

Employers are failing to fully hedge their liabilities after a study revealed half of the FTSE350 still had a proportion of their market capitalisation valuation un-hedged.

The European Commission plans to adopt a "holistic balance sheet" approach to scheme funding rules which will treat sponsor covenants as assets, a consultation reveals.

UK - UK companies are likely to experience the same "painful" and problematic auto-enrolment implementation as Norway firms due lack of preparation and similar complex legislation, Mercer warns.

UK companies are likely to experience the same "painful" and problematic auto-enrolment implementation as Norway firms due lack of preparation and similar complex legislation, Mercer warns.

US - Kimberly Clark, maker of Kleenex and Huggies, is increasing the pension contribution into its $3bn defined benefit plan by up to $260m because of its decreased funded status.

UK - The T&N Retirement Benefit Scheme has agreed a £1.1bn ($1.8bn) buy-in after its funding level was found to exceed the threshold for Pension Protection Fund entry.