News

EUROPE - Scepticism some European allocators feel about the ability of ‘absolute return' funds to achieve their aims has been vindicated so far this month as almost eight in every 10 European funds in the sector lost money in the volatile first three...

The European Federation for Retirement Provision has appointed Matti Leppälä to succeed Chris Verhaegen as secretary general.

Pension schemes are being urged to ensure their fund managers have put in protective claims with HMRC for the recovery of VAT potentially "erroneously" overcharged over the last four years.

Aga Rangemaster has seen its pension scheme surplus rise by £15.6m on an IAS19 basis in the six months from January to June.

Commentary suggesting pension funds should avoid certain investments based on members' ethical consideration goes too far and contradicts case law, a lawyer warns.

EUROPE - The European Federation for Retirement Provision (EFRP) has appointed Matti Leppälä to succeed Chris Verhaegen as secretary general.

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven.

NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.

DENMARK - Danish pension provider ATP recorded a profit of DKK8.1bn ($1.6bn) in the first six months of 2011 driven by high returns in commodities and inflation-related assets.

US - Employer contribution rates for the New York State and Local Retirement System will rise to nearly 19% from next year, comptroller Thomas DiNapoli has announced.