News

Andrew Moss still has work to do at Aviva; Aviva targets £400m savings as sales rise; Standard Life growth led by SIPPs and wraps

Total life and pensions new business across Royal London increased 26% to £2.3bn in the nine months to the end of September.

The Independent Commission on Equitable Life Payments has published a discussion paper asking how funding to non with-profits annuitants should be allocated and prioritised.

Employers are unlikely to switch to trust-based defined contribution schemes in order to receive contributions back if an employee leaves within two years of auto-enrolling, Paul Johnson says.

Standard Life signed 125 new scheme clients during the past nine months, helping to boost net inflows for the group by 60% to £7.2bn, results show.

IRELAND - Pegging defined benefit schemes' liabilities to Irish bonds instead of German and French bonds could significantly ease the burden of underfunding, said Aon Hewitt.

NETHERLANDS - Pension funds failing to meet coverage ratio requirements will be able to postpone the proposed premium increase until 2012, the Dutch central bank said.

GLOBAL - Bank of Ireland Asset Management's strength in fundamental equity and fixed income strategies help State Street Global Advisors (SSgA) plug a hole in their product offering and meet the needs of clients looking for more holistic solutions.

US - The California State Teachers' Retirement System, the second-largest U.S. public pension, will consider cutting its expected earnings rate on investments to 7.5%, increasing the need for higher contributions as it recovers from market losses.

GLOBAL - The International Organisation of Pension Supervisors has launched a set of standards to strengthen supervisory techniques globally.