News

UK - The Pension Protection Fund has published its annual report - revealing a surplus of £678m ($1.1bn) at 31 March.

Bulk annuity business was up fivefold in the second quarter of the year, but falling affordability pushed schemes towards buy-ins rather than buyouts, research shows.

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Russell Investments has expanded its fiduciary management team with two senior appointments.

The Pension Protection Fund has published its annual report - revealing a surplus of £678m at 31 March.

Reform, not strikes, will fix our public sector pensions crisis; Pensioners to be spared benefits squeeze; Nurses vote to strike for first time in 30 years over pensions; What the European Central Bank's interest rate cut means for Britons

US - The $22bn Employees Retirement System of Texas (ERS) has selected Deutsche Bank as its new securities lending provider, replacing JP Morgan Chase.

FRANCE - Alcatel-Lucent reported a pension and other post employment benefit (OPEB) deficit of €1.2bn ($1.7bn) in the third quarter down from an overfunding of €49m at the end of June.

UK - Schemes looking to maximise returns in a low interest rate environment must work closely with investment banks to boost member outcomes, Barclays chief executive Bob Diamond says.

US - The aggregate funded ratio in S&P 1500 pension plans increased to 75% in October from 72% in September, though much of the gain was wiped out at the beginning of this month, figures from Mercer show.