News

Two Dutch firms, BinckBank and Delta Lloyd, have joined forces to launch a defined contribution retirement vehicle for multi-national companies.

NETHERLANDS - BinckBank and Delta Lloyd have joined forces to launch a defined contribution retirement vehicle for multi-national companies.

Saga was the only top five annuity provider not to cut rates following George Osborne's emergency Budget on June 22, Alexander Forbes Annuity Bureau says.

NEW ZEALAND - The Guardians of the New Zealand Superannuation fund has appointed Waterman Capital to help manage its private equity investments.

Just a third of respondents intend to or already have increased their exposure to hedge funds this year, despite assets under management expected to exceed record levels in 2010.

More than 94% of respondents to the Global Pensions 100 Panel said they had no intention of taking legal action against BP to recoup losses to their investments following the Gulf of Mexico oil spill.

The budget change to the indexing of pensions from retail price index (RPI) to consumer prices index (CPI) slashes the average public sector pension by at least £650 a year, the Trades Union Congress says.

AUSTRALIA - Industry superannuation fund Media Super has agreed to offer a A$20m (US$17m) loan to help indirectly finance Australian film and television programmes.

HM Revenue and Customs has decided investors aged 50 to 55 can transfer drawdown funds between providers while taking income without being subject to tax charges.

GLOBAL - Highly volatile markets combined with uncertainty over the sovereign debt crisis will stunt institutional inflows for the rest of the year, research by McKinsey & Co suggests.