News

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

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

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

Most UK companies will continue to run final salary schemes in the short-term despite crippling liabilities, research from the Confederation of British Industry and Watson Wyatt reveals.

Some 29% of companies have not changed their employee benefits during the recession despite the collapse in the "war for talent" due to unemployment, Aon says.

US - A bill introduced into the US Senate yesterday will require 401(k) providers to inform participants of the monthly income they can expect in retirement.

GLOBAL - The World Bank has raised US$130m from institutional investors, including some of the world's largest pension funds, through its green bond issuance.

US - Media publisher McClatchy said it expects to lose US$32m from its investment in a fraudulent scheme run by Westridge Capital Management.

US - The chairman of private equity firm Markstone Capital Group has pleaded guilty in the on-going investigation of pay-to-play kickback schemes at the New York State Common Retirement Fund (CRF).

IRELAND - The aggregate pension fund accounting deficit of the top 25 companies quoted on the Irish Stock Exchange and the top state-sponsored bodies totals €9bn (US$13.5bn), a study by Lane Clark and Peacock (LCP) revealed.