News

NEW YORK - New York State comptroller Thomas DiNapoli has warned the state legislature against making a raid on the New York State Common Retirement Fund (CRF) in a desperate attempt to reach a budget deal.

DENMARK - Dutch pension manager ATP has been appointed administrator to KL, a federation of 98 Danish municipalities, by the ministry of finance.

SWEDEN - A cross-party task force looking into pension reform in Sweden has decided to rule out merging the country's four largest pension buffer funds into one super SEK800bn (US$102.45bn) pot.

US/UK - Financial legislation pending in the US threatens to overwhelm, emasculate, and undermine independence of the Securities & Exchange Commission, according to the watchdog's former chairman.

Defined contribution scheme members have seen annual pension income plummet by more than £1000 a year as a result of stock market falls since the beginning of May, Aon Consulting research reveals.

Axe hangs over benefits and wages; Public pensions to cost you £4,000 a year

GLOBAL - The hedge fund industry's assets should surpass US$1.9trn, the record reached in mid-2008, as early as this year as US pension funds add money to the pools, investment consultant Casey Quirk & Associates LLC said.

Nick Clegg has slammed "unreformed gold plated" public sector pensions after a report revealed taxpayer spending on them will more than double by 2014/15.

A group of institutional investors has written to all FTSE350 chairmen urging them to reveal more detail about executives' pensions.

UK - A group of institutional investors has written to all FTSE350 chairmen urging them to reveal more detail about executives' pensions.