News

SWITZERLAND - The funding levels of Swiss pension funds fell by 4% in the second three months of the year, research by Towers Watson shows.

UK - Pensions minister Steve Webb has signalled that the government will revisit the issue of risk-sharing as part of its drive to reinvigorate occupational pensions.

US -The California State Retirement system (CalSTRS) is to oversee the Los Angeles Unified School District's (LAUSD) defined contribution plan.

US - Private equity giant Carlyle Group has confirmed its plans to go public.

US - The aggregate deficit in S&P 1500 pension plans increased by $73bn during August as equities and bond yields suffered a rollercoaster month, figures from Mercer show.

Personal pension contribution has dropped by a sharp 10% since 2007, according to the Office for National Statistics.

A 12-week government consultation to save £900m from the LGPS will launch at the end of September even though plans on how to achieve the savings are still to be agreed.

Stadium Group has closed its defined benefit scheme to existing members in what it calls "an important step towards finally resolving the funding issues within the pension scheme".

GERMANY/US - German insurer Allianz has announced a restructure of its asset management business that gives subsidiary PIMCO, the world's largest bond manager, more freedom around distribution of its products.

Call to reverse pensions reforms; 430,000 workers pay £11bn too much National Insurance; Pension accounting has caused closure of perfectly viable schemes; Pensions gap widens between bosses and staff