News

Cable offers to take on pension debt in Royal Mail sell-off; Whitbread in property boost for pensions

British Airways will present plans for a restructure of its defined benefit schemes to The Pensions Regulator next month after it concluded talks with trade unions over its £3.7bn deficit.

UK - British Airways will present plans for a restructure of its defined benefit schemes to The Pensions Regulator next month after it concluded talks with trade unions over its £3.7bn (US$5.3bn) deficit.

United Utilities slashed £88m from its IAS19 deficit in just six months after adopting a "sustainable approach" to its pension scheme.

The FTSE 100 fell below 5,000 in midday trade Friday as fears about the sovereign debt crisis and stricter financial regulations persist.

Coalition government plans to investigate allowing members to dip into their personal pension pots could "signal the end of occupational pensions", Pinsent Masons warns.

NORWAY - Norges Bank has appointed State Street Corporation to provide fund administration services for the real estate portion of the Norwegian Government Pension Fund.

US - The California Public Employees' Retirement System (CalPERS) Board of Administration publicly reprimanded board member Priya Sara Mathur for repeatedly failing to file personal and campaign financial disclosure statements required by law.

AUSTRALIA - The median superannuation growth fund remained flat in April, returning -0.1% for the month, as the global markets were dragged down due to concerns over Greek sovereign debt and the possible ‘contagion' of other economies, consultancy Chant...

Defined contribution schemes across the world are more robust following the financial crisis but need further refining to best meet members' needs, Towers Watson says.