News

Lowering the annual pension contribution allowance to £40,000 could persuade some middle-management public servants to take up career average schemes to avoid harsh tax penalties, pensions expert Tom McPhail says.

The Labour Party has named Douglas Alexander as shadow secretary of state for work and pensions.

EUROPE - The European Parliament and Council Presidency have been unable to agree on the final text of the Alternative Investment Fund Managers (AIFM) directive.

US - Sally Choi, general manager of the 43,000-member Los Angeles City Employees' Retirement System, will leave October. 15 to "pursue other opportunities", the fund said.

EUROPE - The European Court of Justice may equalise annuity rates for men and women, but doing so could make women's pension income even worse, experts warn.

US - Mercer is to cease providing investment consulting services to public sector defined benefit schemes in the US.

GLOBAL - Emerging markets equities will trade at a premium to developed stocks within the next five years, Baring Asset Management predicts.

MSRPS; Aon Hewitt; BlackRock; Principal Global Investors; Lombard Odier Investment Managers; ConvergEx Group; F&C; Cordea Savills; Inalytics

F&C Investments has hired Alice Evans as a senior fund manager in its global thematic equities team.

The European Parliament and Council Presidency will meet today to discuss the Alternative Investment Fund Managers directive.