News

Construction company Costain has closed its £450m DB scheme to future accrual.

EUROPE - The implementation of the Alternative Investment Fund Managers (AIFM) directive in its current format is set to cost the European Union 0.1% to 0.2% in annual GDP growth, a study by Europe Economics has revealed.

US - California-based investment manager TCW announced Friday it fired chief investment officer Jeffrey Gundlach and has acquired bond manager Metropolitan West Asset Management (MetWest).

NETEHRLANDS - Economic policy adviser CPB has urged the Dutch government to start the state retirement age reform no later than 2015 instead of waiting until 2020.

US - The funding status of US corporate pension plans rose to a six-month high in November, according to BNY Mellon Asset Management Statistics.

AUSTRALIA - Superannuation funds should hedge their portfolios against inflation to protect them against a surge in US prices, research by fund manager QIC has warned.

Paternoster will not be looking to re-enter the buyout market until turbulent markets have settled, chief executive Ed Jervis says.

The vast majority of businesses are unprepared to deal with the "protection time bomb" that closing or revising defined benefit schemes could create, research reveals.

Pension costs restrict companies; 20-year study finds pension funds rational

Proposed changes to IAS19 will dramatically increase reported pension costs, Hewitt Associates said.