News

The Department for Work and Pensions' plans to abolish transfers between contracted-out defined benefit and defined contribution schemes could lead to a "firesale" of final salary liabilities, a consultant warns.

UK - The Department for Work and Pensions' plans to abolish transfers between contracted-out defined benefit and defined contribution schemes could lead to a "firesale" of final salary liabilities, a consultant warns.

Mercer and Marsh are to consolidate their Manchester operations early next year in a move that will house 400 employees under the same roof.

The BBC's offer of reviewing executives' pension top-ups has been dismissed as "too little too late" by the National Union of Journalists.

CHILE - The controlling shareholder of AFP Habitat SA sold 140 million shares, or a 14% stake, in the pension fund manager at 435 pesos each, according to data posted by the Santiago exchange.

GLOBAL - Aegon has reported an increase in underlying earnings before tax increase from €414m ($531m) to €522m in Q2, supported by improved financial markets.

Life insurance and pension provider Aegon's UK business has delivered a 13% increase in pre-tax earnings to £18m in the second quarter, results show.

Major plan changes to auto-enrolment in 2012 risk undermining the consensus on workplace pension reform, leaving another generation exposed to retirement poverty, the Trades Union Congress warns.

UK - Major changes to auto-enrolment in 2012 risk undermining the consensus on workplace pension reform, leaving another generation exposed to retirement poverty, the Trades Union Congress has warned.

US - California Treasurer Bill Lockyer has asked the state's biggest pension plan to report the 100 highest state and local government salaries each year and to help prevent pay abuses.