News

ICELAND - Iceland's pension funds, which hold the bonds behind most of the country's mortgage debt, will try to block proposals to forgive as much as $2bn in bad loans that the government says it is considering.

US - The California State Teachers' Retirement System (CalSTRS) has successfully pushed through governance improvements at Occidental Petroleum Corporation.

Top-earner pension pots face tax blow; System should still leave plenty of room to save for retirement

Man Group has completed its $1.6bn purchase of GLG Partners, creating a diversified fund group running $63bn of assets.

Labour MP and former Bank of England economist Rachel Reeves has been confirmed as the new shadow pensions minister.

UK - The government has announced it will set up a new public Royal Mail pension scheme - the liabilities of which are to be met by the taxpayer.

UK - The annual allowance will be cut from £255,000 ($408,000) to £50,000; the lifetime allowance reduced from £1.8m to £1.5m, and the factor for valuing final salary benefits increased from 10 to 16, the Treasury has announced.

Here they are. The list of the key changes in the pensions tax regime following today's announcement.

The government has announced it will set up a new public Royal Mail pension scheme - the liabilities of which are to be met by the taxpayer.

UK - Non-executive directors need to take a more dynamic role in corporate governance, Legal & General Investment Management (LGIM) claims.