News

Life expectancy rises by 44 days in just one year

Members of the Association of Teachers and Lecturers have today called for a ballot on strike action to try and protect their pensions.

Some of the UK's biggest pension funds have urged The Pensions Regulator to give guidance on the mixing of schemes' systems and knowledge with those of their sponsor.

Tesco has slashed its scheme liabilities by £270m by switching from the Retail Prices Index to the Consumer Prices Index for calculating inflation linked benefits.

GLOBAL - Multinational companies are starting to use buy-ins and buyouts for their smaller pension funds dotted around the globe, Yvan Legris, UK and EMEA chief executive at Aon Hewitt said.

GLOBAL - Increasingly cautious institutional investors have caused a significant decline in the number of hedge fund of funds with assets of between $2bn and $5bn, research suggests.

The trustees of the £140m UK PZ Cussons Retirement Benefits Plan have appointed Mercer to provide implemented consulting services.

US - The California Public Employees' Retirement System (CalPERS) Board of Administration has adopted a 12-point set of federal legislative policy priorities to help underscore its commitment to preserving defined benefit plans.

ICELAND - A group of Icelandic pension funds will buy a 25% stake in geothermal power company HS Orka for ISK8.06bn ($71.5m) from Magma Energy, the firm said.

UK/US - Principal Global Investors has acquired a majority stake in London-based emerging markets specialist Finisterre Capital.