News

An independent model of the Pension Protection Fund 7800 index shows the collective scheme deficit has plummeted £80bn over the past two weeks - equivalent to about £8bn every day.

Trinity Mirror has cut its defined benefit pensions deficit by £61m and locked in its gains with a £118m insurance contract.

Trustees and sponsors have been battening down the hatches in the past week as market volatility hit deficits and liabilities.

Employers must consider staff requests to continue working post-retirement age in ‘good faith' or risk discrimination claims, Eversheds warns.

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.

Graduates auto-enrolled into pensions should be allowed to use their employers' contributions to pay off their debts, Ros Altmann, director-general of Saga, said.

UK - BlackRock veteran Deborah Fuhr is joining Bank of America Merrill Lynch in London as head of its Global Delta One Strategy, according to a source close to the bank.

EUROPE - France, Italy, Spain and Belgium have temporarily banned short-selling of financial stocks in response to sharp share price falls across Europe.

CANADA - The Canada Pension Plan (CPP) ended the first quarter of fiscal 2012 with net assets of C$153.2bn (US$154bn), an increase of C$5bn from the previous quarter.

GLOBAL - Markets have slipped back into the red after the Dow Jones posted heavy losses on the opening bell, as fears of a double-dip recession intensify.