News

Legal & General has launched a website dedicated to highlighting longevity issues relevant to the financial services sector

Business chiefs fund body to look at public sector pensions; Pension woes are mounting for BA

US/UNITED ARAB EMIRATES - The Abu Dhabi Investment Authority (ADIA) said it plans to fully "pursue its legal rights" as it looks to pull out of its 2007 investment in Citigroup or receive US$4bn in compensation.

GLOBAL - Fewer investors will employ active managers and will avoid high-fee products in 2010, Watson Wyatt predicted.

NETHERLANDS - Dutch charity Prins Bernhard Cultuurfonds has hired SEI as fiduciary manager, the firm announced today.

NETHERLANDS - De Nederlandsche Bank, the Dutch central bank, said it plans to improve the risk management functions at local pension funds after a review of the industry found schemes took on too much investment risk.

The Accountancy and Actuarial Discipline Board has launched an investigation into the conduct of an accountant in connection with matters related to the financial statements of Equitable Life Assurance Society in 1999.

Trivial commutation regulations which should have come into effect on December 1 have been delayed due to a government drafting error, a law firm says.

Data must be fit for purpose on an ongoing basis as opposed to simply fit for certain event-driven activities, Xafinity Consulting says.

Industry veteran Richard Stroud is to quit as a volunteer adviser with The Pensions Advisory Service amid claims of ageism at the department for work and pensions.