News

Calls for the greater use of the open market option back up the policy changes called for by the Pensions Income Choice Association, the body says.

Smiths Group has appointed MNPA to administer its two principal UK pension schemes - the Smiths Industries Pension Scheme and the TI Group Pension Scheme.

The Pension Protection Fund is expected to be fully funded by 2014, its chief executive Alan Rubenstein says.

The Society of Pension Consultants has urged the next government to back auto-enrolment soon after it takes office.

US - The California Public Employees' Retirement System will nearly halve its allocation to AllianceBernstein's international bond mandate and PIMCO's high yield mandate in response to market conditions. The pension fund also plans to sell US$8bn in fixed...

UK - The conversion of the IMG Pension Plan from defined benefit to defined contribution in 1992 was unlawful, the High Court ruled yesterday.

AUSTRALIA/NEW ZEALAND - AXA Asia Pacific Holdings (AXA AP) has rejected an A$11bn (US$10.2bn) acquisition offer by Australian financial group AMP claiming it undervalued the company.

Midland Independent Newspapers Pension Scheme has appointed Jardine Lloyd Thompson as its scheme actuary.

Move to protect pensions of high earners blocked; Two drop bids to run pension plan

US - President Barack Obama has nominated Joshua Gotbaum, operating partner at private equity firm Blue Wolf Capital, to head the Pension Benefit Guaranty Corp., the country's corporate pension safety net, the White house said.