News

HUNGARY - Hungarian private-pension funds retained 102,000 clients, or about 3.2% of their previous membership, by yesterday's deadline in the government's drive to funnel their assets to the state, said Gabriella Selmeczi, the government commissioner...

The £3.2bn Lothian Pension Fund has appointed Northern Trust as its sole custodian.

ITALY - Mercer has strengthened its management team in Italy with four internal appointments.

The majority of defined benefit pension schemes will be shut this year despite combined deficits decreasing by £121bn in the past year, Pension Capital Strategies says.

US - The New York State Common Retirement Fund (CRF) closed four transactions worth $145.4m in November, latest figures show.

UK - Former Treasury Select Committee chairman Lord McFall will direct an independent inquiry into the failings of the current private pension system, as new figures show there has been the equivalent of one piece of fresh pension legislation every week...

First Actuarial has increased its number of partners from nine to 13 after recording its fifth consecutive year of double digit growth.

McFall to lead pension panel; Dutch model might defuse pensions timebomb; banks put £1.4m into Governor's pension; protests mount as pension age changes hit 500,000 women; UK government 'should rethink cuts and raise pension age'; J.P.Morgan strikes important...

Towers Watson has completed its acquisition of consulting and software company EMB.

UK/US - Towers Watson has completed its acquisition of consulting and software company EMB.