News

SPAIN - The International Monetary Fund (IMF) has urged Spain that "bold" changes to state pension provision should be adopted quickly to help ease the country's financial woes.

AUSTRALIA - Financial services firm Russell has announced plans to end a four-year outsourcing contract with IBM to bring back in house administration services for superannuation clients in Australia.

EUROPE - European investors show increasing concern on euro-denominated government debt due to recent market events and the pressure on the single currency, a survey by Fitch Ratings found.

GLOBAL - Pension funds activism as shareholders was "conspicuous by its absence" during the crisis but more engagement by schemes could have made things worse, an academic claimed.

Pension funds, deficits and a bevy of financial snake oil salesmen

A batch of 40-year inflation-linked gilts - being sold by the Debt Management Office this week - has been branded as "expensive" by a consultant.

UBS has launched its Diversified Return Fund which aims to produce equity-like returns from a multi asset portfolio but for defined benefit schemes which do not have the risk appetite for full equity-like volatility.

The Queen today confirmed the coalition government will legislate for the phasing out of the default retirement age and set a timetable for raising the state pension age, depending on the outcome of a review.

UK - The Queen today confirmed the coalition government will legislate for the phasing out of the default retirement age and set a timetable for raising the state pension age, depending on the outcome of a review.

High street giant Marks & Spencer has confirmed a £1.3bn deficit following its triennial valuation.