News

Public sector pensions have recorded a surge in membership while numbers in private sector defined benefit schemes has declined, Office for National Statistics data shows.

US - Target date funds may suffer from conflicts of interest, excessive fees, and a lack of clarity about the composition of the funds, a Senate committee heard yesterday.

GLOBAL - Worldwide investment fund assets increased 5.4% to €14.39trn (US$21.2trn) at the end of the second quarter of 2009 due to strong inflows, data from the European Fund and Asset Management Association revealed.

New UK life and pensions business at Standard Life has fallen 23% for the first nine months of 2009, compared to the same period last year.

UK - Government restrictions on reclaiming tax on overseas equity dividends via unauthorised unit trusts will potentially harm many UK pension funds, Deloitte warned.

The London Pensions Fund Authority is calling for the creation of an independent commission on local government pension schemes.

Government restrictions on reclaiming tax on overseas equity dividends via unauthorised unit trusts will potentially harm many UK pension funds, Deloitte warns.

Pareto will be running a limited-attendance currency management seminar at the up-coming Professional Pensions Show in London.

UK - The increased deficit of the BAA defined benefit scheme has contributed to the airport operator's pre-tax losses of £784.7m (US$1.3bn), results showed.

NETHERLANDS - Stichting Pensioenfonds ABP chairman Ed Nijpels said he is ready to resign should the investigation on the collapse of DSB bank involve him.