News

FRANCE - The Fonds de reserve pour les retraites said it is 143% funded, more than enough needed to fund its liabilities through to 2024 as mandated by the government.

The pensions deficit for the UK's largest companies remained stable in May, but major changes to accounting standards could increase shortfalls by £10bn, Aon Hewitt warns.

AUSTRALIA/CANADA - The Canada Pension Plan Investment Board has bought a 50% stake in an Australian shopping centre for A$455m ($488m).

New York Life Investments has launched the Guaranteed Interest Pension Account (GPA) to help corporate plans better manage their near-term liabilities.

The Pensions Archive Trust has appointed Katy Johnson as its archivist.

US - The California Public Employees' Retirement System (CalPERS) has appointed Réal Desrochers as senior investment officer for its private equity programme.

The Treasury has proposed to remove tax relief on compensation payments for pension mis-selling.

UK - The standard of governance within the hedge fund industry is exposing schemes to high risks and needs significant improvements, the £30bn ($49bn) Universities Superannuation Scheme says.

GLOBAL - Implementing a responsible investment strategy need not be at the expense of strong returns and can actually help pension funds make better investment choices, Swedish pension funds heard.

New pension rules risk a mis-selling scandal; Blue Chip companies halve pension deficit; Takeover Panel urged on pension toll of bids; Town hall staff face GBP9,000 pay cut to fund their pensions, claim council chiefs