News

NETHERLANDS/BELGIUM - A group of Dutch and Belgian investors is planning to sue ABN Amro and KBC who acted as counterparties in trades with Lehman Brothers and Ernst & Young who audited the bank's accounts.

Balanced pooled funds posted a positive return for February 2010 with a median of 3.5%, latest BNY Mellon Asset Servicing CAPS figures reveal.

EUROPE/FRANCE - The European Commission has told France to change tax rules that penalise foreign pension and investment funds.

Sir Fred's pension trumped by RBS deputy

Calculation of the Pension Protection Fund levy should be changed so schemes can rely on specific estimates for a number of years, a steering group recommends.

UK - Calculation of the Pension Protection Fund (PPF) levy should be changed so schemes can rely on specific estimates for a number of years, a steering group recommended.

AUSTRALIA - Cbus Super and CONNECT Super have announced intentions to merge, creating an A$15bn (US$13.8bn) fund covering 600,000 members in the building and constructions industry.

Industry proposals to radically simplify the UK pensions system by introducing a so called ‘citizen's pension' would "tempt fraudsters", The Pensions Advisory Service warns.

HM Revenue & Customs will struggle to cope with a deluge of information requests from trustees attempting to equalise guaranteed minimum pension payments, industry figures warn.

Beleaguered RBS is to pay out a pension even larger than Sir Fred Goodwin's controversial £12.3m retirement pot.