News

Pension funds turn to the low-risk area of microfinance; Aegon UK forced to admit pensions blunder

HM Revenue & Customs will go out to consultation on amendments to A-Day regulations that threaten members' tax free cash on wind-up for the second time, PP has learned.

Employers are not paying sufficient attention to contract-based defined contribution scheme governance structures, Standard Life research says.

The £4.1bn Merseyside Pension Fund has retained fixed income managers Schroders and Legal & General following a formal review and tender process.

UK - More than 1500 Fujitsu workers are deciding whether to take industrial action over proposed pension cuts which unions believe will cut salaries by 20%.

UK - The £7bn ($11bn) West Midlands Pension Fund has invested £40m in a global long-short equity fund of hedge funds run by Goodhart Partners.

US - The funded status of pension plans sponsored by the S&P1500 has plummeted to 81% in the last six months, analysis from Mercer has revealed.

IRELAND - Some 70% of defined benefit plans could be closed to new members in the near future, double the amount two years ago, a report by the Irish Association of Pension Funds (IAPF) found.

NORWAY - Managers at the Norway Government Pension Fund -Global are flexing their corporate governance muscles and demanding that Volkswagen call off its planned acquisition of luxury car maker Porsche.

Fewer than half of private sector employees see pensions as the best way to save for retirement in contrast to their bosses, research shows.