News

NETHERLANDS - Fourteen Dutch pension funds will have to cut their pay-outs to pensioners before the end of the year, social affairs minister Piet Hein Donner has announced.

US - The State of New Jersey has settled charges by the Securities and Exchange Commission that it fraudulently misled municipal-bond investors while underfunding the state's two biggest pension plans.

Pension fund hole adds to EMI's problems

NETHERLANDS - ING Groep NV's Dutch pension fund's coverage ratio rose to about 116% at the end of July from 114% at the end of June.

UK/AUSTRALIA - Former Money Portal boss Tony Morris has had his assets frozen by top Australian judges over his links to the £52m GP Noble fraud case.

Former Money Portal boss Tony Morris has had his assets frozen by top Australian judges over his links to the £52m GP Noble fraud case.

KOREA/FRANCE - Hammerson has agreed to sell 51% of its interest in a Paris shopping centre to the National Pension Service of Korea (NPS) for €217m ($278m).

Trustees of the BBC Pension Scheme are seeking legal clarification on their responsibilities after bosses failed to consult with them before proposing sweeping contractual changes.

The value of variable annuity sales rose to £445m in the first half of the year, Towers Watson data shows.

Government is contemplating legislative action to loosen strict rules preventing more than half of schemes switching from RPI to CPI inflation increases, PP can reveal.