News

Regulators should promote countercyclical funding policies, like providing better tax ceilings for over-funded schemes, in order to support the continuation of defined benefit plans, the OECD said.

NEW ZEALAND - Treasury deputy chief executive Gabriel Makhlouf said encouraging those 65 and above to work could help make a dent in the country's "unsustainable" superannuation and other budget costs.

AUSTRALIA - The median Australian superannuation growth fund returned 10.4% in the year ended June 30, besting its target returns by over 300 basis points, according to data by Chant West.

The Pensions Regulator suspended trustees from more than 100 defined contribution schemes in the past year, its annual report and accounts reveals.

UK - The Pensions Regulator suspended more than 100 defined contribution scheme trustees in the past year, its annual report and accounts revealed.

Equitable Life policyholders will have to wait until the middle of next year for compensation, which could be as little as £400m.

The judges for the Pension Scheme of the Year Awards have been confirmed.

Watchdog bares teeth to protect pensions from politicians

US - New York City Comptroller John Liu said Acadian Asset Management, a Boston company that managed US$646m for three city pension funds, was one of six investment advisers dismissed for poor performance.

BBC employees will be balloted on strike action after the broadcaster refused to withdraw proposed changes to the pension scheme, Unions say.