News

Young workers face a retirement age of 72 or older, according to analysis by PwC.

A group of MPs charged with scrutinising cuts to the Department for Work and Pensions has said it is still concerned the project is too ambitious.

CANADA - The Caisse de dépôt et placement du Québec has invested C$200m ($201m) in local insurer Industrial Alliance, Insurance and Financial Services as part of its strategy to invest more heavily in Québec-based companies.

GLOBAL - Three quarters of institutional investors are looking for greater liquidity in their hedge fund investments following the financial crisis, research by Preqin shows.

US - Raudline Etienne, chief investment officer of the $140.6bn New York State Common Retirement Fund, will step down this week to join the strategy firm run by former Secretary of State Madeleine Albright.

US - The California Public Employees' Retirement System (CalPERS) has earmarked up to $800m for investments in California infrastructure over the next three years.

Hedge funds overall lost 2.3% in August - a poor month by their own standards - but this average figure for the $2trn industry masks eye-watering numbers some individual managers are now posting to data providers.

SIPP provider Pointon York has announced it has received "several" approaches for a takeover.

GLOBAL - Hedge funds overall lost 2.3% in August - a poor month by their own standards - but this average figure for the $2trn industry masks eye-watering numbers some individual managers are now posting to data providers.

UK - Pensions minister Steve Webb revealed over the weekend that the state pension age could be raised to 67 as early as 2026 in response to increasing longevity.