News

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.

UK - Two pensioner groups will challenge the government in the High Court today over its decision to switch to the Consumer Prices Index for up-rating public sector pensions.

IRELAND - An Irish construction company director has been convicted for failing to pass on employee pension contributions to the Construction Worker Pension Scheme (CWPS).

NETHERLANDS - Dutch telecom company Royal KPN said its pension funding decreased to 96% at the end of the third quarter in 2011, down 12 percentage points from the previous quarter.

ASIA - Asia ex-Japan and Australian assets are set to double by 2015, reaching $4tr, according to a recent study by Cerulli Associates.

Pension report warns on risky schemes; Unions set for pensions fight after talks fail; Unions go to high court over public sector pensions reform; Landmark pension case launched over 'biggest robbery' from schemes; F&C to cut jobs following strategic...