News

GLOBAL - Pension funds in North America and Europe have different definitions of volatility and generally different approaches to dealing with those swings, a new report by Pyramis Global Advisors reveals.

Aegon is to close half of its regional sales centres in the UK making 142 roles redundant.

FRANCE - French President Nicolas Sarkozy agreed to modify his bill to overhaul the pension system in response to strikes and demonstrations by workers, though he won't retreat on raising the retirement age.

Packaging supplier DS Smith is proposing to close its final salary scheme to future accrual despite strong first quarter performance.

The industry urgently needs a decision on pension tax relief restrictions, the Association of Consulting Actuaries warns.

The Pensions Regulator's draft trustee guidance on covenant assessment is a "missed opportunity", Sackers says.

UK - A group of disgruntled pension funds is threatening litigation against investment giant Henderson after one of its funds lost more than 60% of its value during the credit crunch.

AllianceBernstein has hired Tim Banks to expand its defined contribution capabilities in the UK.

A group of disgruntled pension funds is threatening litigation against investment giant Henderson after one of its funds lost more than 60% of its value during the credit crunch.

About two-thirds of over-55s are concerned they would not be able to raise the necessary cash if faced with an unexpected payout of £500 or more, according to the Aviva Real Retirement Report.