News

The Merchant Navy Officers Pension Fund has secured a further £100m of liabilities after signing a second buy-in deal with Lucida.

UK - The Merchant Navy Officers Pension Fund has secured a further £100m (US$149.9m) of liabilities after signing a second buy-in deal with Lucida.

Confusion remains about whether retirees aged under 55 in drawdown can switch provider without triggering a tax charge, Hornbuckle Mitchell says.

Pensions continue the move away from stocks

US - BlackRock Inc. and the largest US business lobby groups are fighting to strike a provision in the regulatory-overhaul legislation that they say could harm millions of investors in retirement plans and pension funds.

Update 11.52am: The FTSE 100 has soared more than 250 points, or almost 5%, in morning trading as the markets took confidence from this weekend's €750bn rescue deal to defend the euro.

Development of defined benefit schemes could be hindered by a growing disconnect between trustees' and sponsoring employers' attitudes to risk, MetLife Assurance says.

US - The California attorney general has accused former CalPERS board member Alfred Villalobos, now a third party marketer, with bribing former chief executive Fred Buenrostro in order to gain business for private equity firms including Apollo Global...

IRELAND - The government has decided to leave unchanged current provisions on public pensions' indexation, despite having announced in this year's budget current arrangements were under review and could be amended.

NORWAY - Radical changes to laws governing defined benefit plans in Norway will be needed to adapt the schemes to the new old-age state pension, a commission tasked with examining the future of pensions in the country's private sector has concluded.