News

Flat-rate state pension will be set at £155 per week; Universal state pension of £155 to be introduced; Fifth man charged in £52m penson fund fraud; A two-tier state pension?; Coalition narrowly avoids Lords defeat on pension changes; Uniq put up for...

US - The Pension Benefit Guaranty Corp. has sold $594m of shares in Delphi back to the company but the impact of the deal on Delphi's pension benefits remains uncertain, the PBGC said.

The Uniq Pension Scheme, which owns 90% of its sponsor after a pioneering deficit for equity swap, may now sell the chilled foods manufacturer.

Defined benefit pension schemes wiped £93bn off their combined deficits in the last 12 months but the demise of final salary arrangements will not cease, JLT Pension Capital Strategies say.

US - State and local government pension fund assets rose by 5.5% in the last quarter of 2010 as stock market gains helped recoup losses incurred since the financial crisis.

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 days.

US - California Governor Edmund Brown has proposed a set of seven bills aimed at eliminating public-employee pension abuses in the state.

Tony Morris is the fifth person to be charged in the £52m GP Noble fraud case after being extradited from Australia, the Serious Fraud Office confirms.

Hermes Fund Mangers explains how the general move towards de-risking, the increased reliance on risk models and the increasing love of complex investment strategies may actually be some of the biggest risks facing schemes today.

UK - The asset management industry "abdicated responsibility" towards schemes during the financial crisis of 2008 and needs to become more responsible towards clients, Hermes says.