News

CANADA - The Ontario government has proposed a number of changes to the employment pension system in what could be the most far reaching reform in the last two decades.

IRELAND - Ireland is set to create a separate single pension scheme for all new entrants to the public service in a bid to reduce the state's pension bill, minister of finance Brian Lenihan said yesterday during the presentation of the 2010 Budget.

AUSTRALIA - Officials at the Australian Future Fund are in preliminary discussions with two Canadian pension plans about partnering up to acquire Australia's largest toll-road provider Transurban Group.

FRANCE - The Fonds de Réserve pour les Retraites has hired six managers to run a combined €1bn (US$1.5bn) in investment grade credit dominated in euros.

Alistair Darling's proposals to reform public sector pensions cover up a 45% hike in costs next year, independent pensions consultant Ros Altmann warns.

UK - Alistair Darling's proposals to reform public sector pensions cover up a 45% hike in costs next year, independent pensions consultant Ros Altmann warned.

The Pension Protection Fund took on three more schemes last month resulting in an additional 275 people becoming eligible for compensation from the fund.

The Association of British Insurers is set to tackle the issue of at-retirement apathy with the launch of updated "wake up" packs for savers approaching retirement.

Overall investment manager search activity increased in the UK during the first nine months of the year, Mercer says.

UK - Overall investment manager search activity increased in the UK during the first nine months of the year in a sign activity is returning to pre-credit crunch levels, Mercer said.