News

Housebuilder Taylor Wimpey will close the £567m George Wimpey Staff Pension Scheme to future accrual on 31 August, this year.

The University of Edinburgh has appointed Hymans Robertson as investment adviser to its £200m staff benefits scheme.

MEXICO - US-based real estate developer AMB Property Corp. said it raised $260m primarily from Mexican pension plans, known as AFORES, for an industrial real estate fund, the AMB Mexico Fondo Logistico.

GLOBAL - Strategic and tactical asset allocation decisions are converging into "a more holistic process" as investors refine their risk management post-crisis, State Street says.

US - Employers with defined benefit (DB) pension plans could receive up to $63bn in temporary pension funding relief as a result of new legislation, research by Towers Watson suggests.

AUSTRALIA - Prime Minister Julia Gillard said a re-elected Labor government will allow Australia's pension industry to offer a new standardised fund recommended by a government-commissioned review.

British Airways deal with its scheme trustee over how to plug its £3.7bn deficit has been approved by The Pensions Regulator.

UK - British Airways' deal with its scheme trustee over how to plug its £3.7bn deficit has been approved by The Pensions Regulator.

Concerns over the demand for index-linked gilts following the decision to use CPI for pension increases have been exaggerated, F&C says.

Volatility in global equities and falling corporate bond yields in the last two weeks of June cancelled out much of the growth achieved by schemes over the past six months, Mercer says.