News

The current time it takes for pension schemes to complete the wind-up process is "Dickensian", The Pensions Regulator says.

AUSTRALIA - Superannuation fund members with multiple employers who breach contribution caps are being unfairly penalised, an industry body warns.

UK/US - Merseyside Pension Fund has tripled the size of its fund of hedge funds allocation with Pacific Alternative Asset Management Company (PAAMCO) to $75m.

GLOBAL - The hedge fund industry has finally recouped the assets it lost during the height of the credit crunch two years ago, according to data provider Eurekahedge.

FRANCE - The Fonds de réserve pour les retraites (FRR) has fired BlackRock from a €478m ($651m) US small-cap equity portfolio, taking 87% of the assets the firm runs in the strategy.

PERU - Peru's pension funds will cut local stock holdings to buy Chilean and Colombian shares as exchanges in the three nations move toward integration, said Mariano Paz Soldan, chief executive officer of pension fund Profuturo AFP.

UK - GlaxoSmithKline trustees have agreed a £900m ($1.4bn) buy-in deal with Prudential.

The Pensions Regulator is urging trustees and administrators to adopt a tool that will speed up reconciliation of data in contracted-out pension schemes, by up to two years.

GlaxoSmithKline trustees have agreed a £900m buy-in deal with Prudential.

Pensions minister Steve Webb has defended the CPI pension indexation switch after the Trades Union Congress accused him of breaching members' accrued rights.