News

Schemes must take action before 31 March if they are to reduce their 2011/12 Pension Protection Fund (PPF) levies, Aon Hewitt urges.

Public sector discount rates should be tied to UK economic growth to reflect future tax revenues needed to fund the scheme, the Pensions Policy Institute says.

The Baxters Food Group and the trustees of the Baxters Food Group Pension Scheme have appointed Punter Southall as their full service provider.

Tax relief on contracting out should be scrapped for all pension schemes by 2012, the Office of Tax Simplification recommends.

Lord Hutton could slash the cost of pensions already owed to public sector workers by breaking the link with future pay growth, Towers Watson says.

CHINA - China should allow pension funds to invest more money in domestic stock markets as the nation's economic development fuels companies' demand for financing, an official at the securities market regulator said.

MENA - The Middle East and North Africa (MENA) still offer investors attractive opportunities despite the current political turmoil, ING Investment Management believes.

UK - Members could end up cross-subsidising those with high pay rises as a result of the "scheme pays" annual allowance option.

US - New York City's police pension hired Permal Group to invest in hedge funds, choosing the Legg Mason unit over firms including Blackstone Group.

US - Goldman Sachs managing director, head of investment strategy Kurt Winkelmann has joined MSCI as managing director and head of risk & analytical research.