News

Scottish academics launch wave of pensions strikes; Ontario Teachers' fund backs TMX merger; Murdoch sued for nepotism over £400m deal for daughter's firm

The move to CPI for pension indexation will reduce defined benefit liabilities by about £60bn by the end of the year, KPMG says.

GLOBAL - Asset manager F&C nearly doubled its votes against company management in shareholder resolutions last year, reflecting a tougher stance on corporate governance, the firm said.

Santander UK has slashed its defined benefit scheme deficit by 85% after paying contributions of £995m last year.

A university employer group has hit back at unions for taking strike action today over planned changes to the Universities Superannuation Scheme.

The Pensions Regulator will publish detailed guidance for large employers and intermediaries on compliance with employer duties in May.

CANADA - Quebec has become the first Canadian province to introduce a new pension programme for workers who don't have their own retirement savings.

UK - Strong de-risking demand from UK pension funds drove a 36% increase in Legal & General Asset Management's liability driven investment funds last year, results show.

POLAND - Polish lawmakers have begun debating pension changes proposed by the government that are opposed by almost half of the country's voters before elections expected within seven months.

US - Two government reports released yesterday found employers offering 401(k) plans have little understanding of securities lending activities within their defined contribution plans.