News

CHILE - The controlling shareholder of Administradora de Fondos de Pensiones Habitat SA will sell 14% of the pension fund manager in an auction on Chile's main securities exchange.

DENMARK - The Danish government wants to set up a DKK5bn ($880m) venture capital pool with the country's pension funds to invest in small and medium sized domestic businesses.

US - The recession and an ageing population will force US social security to pay out more than it takes in for the first time ever this year.

Have you missed the biggest stories in pensions this week? Find out below, as we list the top ten most popular stories on www.professionalpensions.com over the past seven days (30 July - 5 August).

The part-nationalised Royal Bank of Scotland has cut its pension costs by £144m compared with the first half of last year.

UK - The part-nationalised Royal Bank of Scotland has cut its pension costs by £144m ($230m) compared with the first half of last year.

EEF is running a series of nationwide seminars in the autumn for employers, offering advice on managing the risks and costs of their pension arrangements.

The Pensions Regulator has appointed Nigel Peaple as head of corporate and international affairs.

US - The Teachers' Retirement System of the State of Illinois (Illinois TRS) plans to hire up to 12 absolute return managers over the next three years as officials move to double its allocation to the asset class.

UK - A record £12.5bn ($20bn) risk transfer deals were done in the first half of the year and a quarter of major firms will de-risk by 2012, Hymans Robertson predicts.