News

Royal London group received a boost from pensions arm Scottish Life during the first half of 2011 as its new business increased 10%.

US - Pension funds in Virginia and Florida have become the latest to point a finger at Bank of New York Mellon for overcharging for foreign currency trades and both states filed lawsuits against the bank yesterday.

NORWAY - The Government Pension Fund Global was up 0.3% in the second quarter after rising bond prices helped to offset drops in the global equities markets.

UK - 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 ($13bn) every day.

Number of people working beyond 65 soars; FTSE 350 Pension Deficit "up £2bn a day"; ‘Force annuity buyers to shop around for best rate'; This is the wrong time to lock into a conventional annuity

eShare has joined forces with consultant LCP to help deliver and implement its pensions governance software.

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.