News

JAPAN - Japan's public pension fund sold more government bonds than it bought for the first time in nine years, underscoring concern that an aging population will make domestic investors less able to finance state borrowings.

The Association of British Insurers has unveiled a four-point action plan to reinvigorate UK pension saving.

The Pensions Regulator is set to strengthen its guidance on transfer incentives following "concerning" behaviour from some trustees.

GLOBAL - Aon Hewitt will deliver cost savings of $355m (£235m) a year through cuts in both back and front office operations, Aon Corporation has said.

Aon Hewitt will deliver cost savings of $355m (£235m) a year through cuts in both back and front office operations, Aon Corporation says.

US - Pension deficits at S&P1500 companies reached $451bn at the end of June according to Mercer, just $1bn short of the previous record high set in January 2009.

The aggregate deficit of the 6653 schemes in the Pension Protection Fund's PPF 7800 index amounted to £21.8bn at the end June down from a surplus of £11.7bn at the end of May.

Aegon has named former ABN Amro Asset Management chief and ex-Artemis director Sarah Russell as the new chief executive of its asset management business.

UK - Threadneedle has appointed Mark Burgess as chief investment officer ahead of Sarah Arkle's retirement.

Pensions minister Steve Webb has made a written statement to parliament clarifying the government's proposals to index private sector pension increases to CPI rather than RPI.