News

Pensions proposal to lift tax-free threshold; Switch to CPI will hit benefits; September shares rally halves pension scheme shortfall; Renewed threat of pension strikes

ASIA - HSBC Global Asset Management has appointed Joanna Munro as chief executive officer of its Asia-Pacific business.

HM Treasury will announce new pension taxation rules including the cap on the annual allowance tomorrow.

AUSTRALIA - The governance benchmark for superannuation trustees should be higher than that of listed companies, the Association of Superannuation Funds of Australia believes.

LCP has promoted five of its consultants to partner in its pensions and insurance practices.

US - Law firm Manatt Phelps & Phillips has agreed to a five year ban on appearing before any New York public pension fund and will pay $550,000 to the state, Attorney General Andrew Cuomo said.

Four Capital Partners has hired former Morgan Stanley Investment Management manager Colin McQueen to set up a global equities offering at the firm.

The Pensions Advisory Service chairman Partha Dasgupta has launched a passionate defence of the government-funded body after a leaked Cabinet Office document revealed it remains under threat.

Europe - Jean-Pierre Steiner has stepped down from his role as chief executive of Nestlé Capital Advisers.

UK - The aggregate funding position of the 6,653 schemes in the Pension Protection Fund's 7800 index improved to a deficit of £20.4bn ($32bn) at the end of September.