News

European plans to regulate UK occupational pensions with Solvency II-type requirements would be a "total disaster" for schemes, the Confederation of British Industry warns.

Schemes with less than 1,000 members tend to face higher running costs per member, Department for Work and Pensions research shows.

There is a "real danger" the auto-enrolment regime could be so broad it becomes an unenforceable law, Alan Pickering warns.

US - The Pension Benefit Guaranty Corporation (PBGC) has been "aggressive" in its efforts to preserve pension plans sponsored by troubled companies, director Josh Gotbaum said.

US - AXA Investment Managers has appointed Jeremy Baskin as chief executive officer of AXA Rosenberg, completing the firm's restructure in the wake of the coding error scandal.

US - Kentucky Retirement System (KRS) has appointed Timothy "T.J." Carlson as chief investment officer (CIO).

US - State Street plans to cut 1,400 employees, or 5% of its total workforce, with staff in North America taking the brunt of the cull.

UK - The top 100 UK firms' defined benefit schemes knocked £42bn off their combined deficit over the last year, Pension Capital Strategies research shows.

The heavily criticised judgment on compromise agreements in the IMG case has been overturned by the Court of Appeal.

UK/NETHERLANDS - The number of pension plans adopting liability driven investing strategies has remained robust over the past year, with schemes in the UK and Netherlands leading the way, SEI says.