News

The Association of Consulting Actuaries has requested a meeting with pensions minister Steve Webb to discuss the upcoming Pensions and Savings Bill.

The Pensions Archive Trust board has appointed Malcolm McLean as a vice-president.

The credit market is pricing in a 36% chance BP will default within five years as the oil giant deals with the fallout from the Gulf of Mexico disaster.

BP directors will face "testing questions" from schemes in the wake of the firm's decision to suspend dividends for the remainder of the year, the National Association of Pension Funds says.

GLOBAL - BP will not pay dividends for the remainder of the year as it has to put us$20bn in a compensation fund for victims of the Gulf oil spill.

UK/GLOBAL - BP directors will face "testing questions" from schemes in the wake of the firm's decision to suspend dividends for the remainder of the year, the National Association of Pension Funds said.

George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.

UK - George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.

NETHERLANDS - Dutch pension funds should use long-term bond rates to discount liabilities in order to better insulate them from financial crises, the Organisation for Economic Co-Operation and Development said.

US - California state's yearly payment to the California Public Employees' Retirement System could jump 18% after the committee members of the pension fund's board approved a hike in the state's contribution.