News

EUROPE - RBC Wealth Management has reached an agreement to buy BlueBay Asset Management for £963m ($1.5bn).

US - States should cut public pension costs through increasing the retirement age and other practices rather than defaulting on debt, DWS Investments said.

UK - Trustees now have a further five years to act on legal requirements under section 251 of the Pensions Act 2004, the department for work and pensions confirms.

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.

Have you missed the biggest stories in pensions this week? Find out below, as we list the top ten most popular stories on www.professionalpensions.com over the past seven days (8 October - 14 October).

GERMANY - Pension plan liabilities will reach an "historic high" before the end of the year due to low interest rates and falling bond yields in Germany, Mercer warns.

HONG KONG - Hong Kong should limit fees for the city's mandatory pension fund and encourage workers and companies to increase contributions, Mercer says.

Trustees now have a further five years to act on legal requirements under section 251 of the Pensions Act 2004, the department for work and pensions confirms.

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.