News

Savers are missing out on £742m extra tax relief this year by not making additional voluntary contributions, according to unbiased.co.uk.

Pension consultancy Mattioli Woods has bought pension administration and employee benefits businesses of Cooper Parry Wealth Strategies for almost £1.2m.

Pension schemes transferred more than £4bn of liabilities in Q1 making it the highest ever quarter for risk transfer, Hymans Robertson says.

UK - Pension schemes transferred more than £4bn (US$6bn) of liabilities in Q1 making it the highest ever quarter for risk transfer, Hymans Robertson said.

US - Standard & Poor's, Moody's Investors Service and Fitch Ratings must face the California Public Employees Retirement System's lawsuit claiming their faulty risk assessments on structured investment vehicles caused US$1bn in losses.

Newcomers pile into longevity risk market; Uncovering the true level of US and UK public pension liabilities

CANADA - The Canadian government has proposed shelving certain investment restrictions currently imposed on private pension plans.

GREECE/GLOBAL - Greece has pledged to undertake a pensions overhaul as part of the structural reforms agreed with its partners in the eurozone and the International Monetary Fund (IMF) in exchange for a €110bn (US$144bn) rescue package.

AUSTRALIA - The Rudd government has committed to raising the employer contribution to superannuation funds from 9% of salary to 12% by 2020, a move that will mean an extra half a trillion dollars in superannuation assets under management by 2035.

The Universities Superannuation Scheme needs switch to a career average structure and increase the normal pension age to 65, the Employers Pensions Forum urges.