News

Warning on council pension scheme; Pensions safety net surplus hits £42bn on market rise; Calpers sues former Lehman executives; Price level concerns prompt UK gilt surge

The typical funding level for the pension schemes of small to medium sized businesses increased 3.7 percentage points in Q4 last year, figures reveal.

The Pensions Regulator has launched an education drive to highlight the importance of administration in enabling good outcomes from pensions saving.

Jonathan Davis, who was announced as the ABI director of investment affairs in November, has revealed he will not take up the role after all.

Mercer has signed up three of the UK's biggest corporate benefit providers to launch a corporate wrap platform to meet the rapidly changing market place.

UK - The balance of schemes monitored by the Pension Protection Fund improved to a surplus of £46.1bn ($74.3bn) at the end of January, figures from the lifeboat fund reveal.

IRELAND - Qualifying Investor Funds (QIFs) increased by 35% to €153bn ($209bn) during 2010, figures from Central Bank of Ireland reveal.

NEW ZEALAND - The New Zealand Superannuation Fund returned 4.42% in December 2010, up from -0.38% in the previous month, due to an increase in global equities.

HONG KONG - The Mandatory Provident Fund has failed in its task to encourage additional savings, but pending legislation to encourage members to move their assets into other savings vehicles will do just that, said RCM.

Friends Provident has named Colin Williams as director of its corporate business after Paul McMahon quit the firm to join rival Aegon.