News

Firms still sick on pensions; Future Fund in toll bid talks with Canadians

Police are investigating alleged fraudulent activity by former Rowanmoor Pensions joint managing director David Seaton, who died in September.

FRANCE - The Fonds de Réserve pour les Retraites has hired five managers to run a total of around €1.5bn (US$2.1bn) in fixed income mandates.

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.

US/ISRAEL - Telecommunication software provider Comverse Technology will pay US$225m to a group of investors, including at least one pension fund, in what is said to be the largest settlement involving an Israeli institution serving as lead plaintiff....

The Financial Services Authority fears advisers and employee benefit consultations will switch group personal pensions around the market to continue receiving commission.

A special commission has been launched to find a solution to the £1.1trn problem of unfunded liabilities in public sector pensions.

UK - A special commission has been launched to find a solution to the £1.1trn (US$1.6trn) problem of unfunded liabilities in public sector pensions.

The UK's combined defined contribution pension savings have rebounded by more than £103bn since this time last year, Aon Consulting says.

Retirees who shop around are 50-times more likely to get an enhanced annuity than those who stay with their pension provider, a lobby group claims.