News

AUSTRALIA - The Superannuation Clearing House, a free service that streamlines superannuation payments for small businesses, has had around 4,500 employers registered in its first year of operation, the government said.

Government is set to lay out its detailed response to Lord Hutton's reform proposals later today, with contribution hikes set to be limited to workers earning more than £15,000.

Fidelity International has created a new defined contribution and Workplace Saving Business to be led by Julian Webb as part of a company restructuring exercise.

The International Accounting Standards Board has published the final IAS19 standard, confirming key changes that could see £10bn wiped off UK company profits.

NETHERLANDS - BNY Mellon Asset Servicing has been appointed by Stichting Rabobank Pensioenfonds (Rabobank Pension Fund) in the Netherlands to provide custody and other services for its $16.4bn of assets.

EUROPE- The EU and IMF have reached a deal on Greece which should prevent a default, but will involve a new round of austerity measures for the beleaguered nation.

UK - Scheme funding levels improved during 2010 despite fears of a double-dip recession and the sovereign debt crisis, UBS Global Asset Management says.

London hedge fund CQS is delaying planned soft closure for its flagship ABS portfolio to allow prospective pension scheme investors already conducting due diligence on the fund to complete their analysis.

Scheme funding levels improved during 2010 despite fears of a double-dip recession and the sovereign debt crisis, UBS Global Asset Management says.

Sackers has launched a non-legal advice service for companies and scheme trustees offering project management, scheme secretarial and governance support.