News

EUROPE - The global real estate crisis has created investment opportunities for pension funds and other institutional investors, Mercer believes.

UK - The total deficit of FTSE100 pension schemes decreased to £66bn ($105bn)in the third quarter, Pensions Capital Strategies analysis shows.

HUNGARY - Hungary would use excess budget income from private pension portfolios returning to the state to reduce government debt, said Gyorgy Naszvadi, a state secretary in the Economy Ministry.

Law Debenture has added to its roster of professional trustees with the appointment of Michael Chatterton and Donny Hay.

The total deficit of FTSE100 pension schemes decreased to £66bn in the third quarter, Pensions Capital Strategies analysis shows.

EUROPE - The European Federation of Retirement Provision (EFRP) has appointed Patrick Burke as its new chairman.

US - California Public Employees Retirement System (CalPERS) saw its investments rise 13.3% in the year to June, beating its estimated return by almost two percentage points.

The government will publish a formal response to its consultations on the Finance Bill 2011, including details on new pension annuitisation rules, on 9 December.

IRELAND - A prosecution brought by the Pensions Board against a company director has been adjourned to give him time to pay back funds he took from the firm's pension scheme.

US - The New York State Common Retirement Fund rose to $132.8bn after the fund returned just over 8% in the quarter ended September 30.