It is impossible to say how long the 2% charge on National Employment Savings Trust contributions will last for, the Personal Accounts Delivery Authority says.
Early adopters of the National Employment Savings Trust are facing a poor deal due to high charges, industry experts say.
SWEDEN - AP7's Premium Savings and Premium Choice funds both bounced back last year after a torrid 2008.
US - The North Carolina pension fund has hired Credit Suisse to manage a US$230m private equity fund that will target in-state companies.
JAPAN - Religare Enterprises hired a team from KBC Financial Products to tackle the Japanese asset management market.
ITALY - Italy's largest pension fund Fondo Cometa has appointed BNP Paribas as its new custodian for its €5bn (US$6.8bn) portfolio.
US - The California Public Employees' Retirement System has announced plans to ask 58 of the top US firms in its global equity portfolio to adopt the majority vote standard in uncontested elections for corporate directors.
The expected charging structure for the National Employment Savings Trust has received a mixed reaction.
The Pensions Management Institute has teamed up with Standard Life to form a research partnership looking at defined contribution provision.