News

The Association of Independent Financial Advisers has issued a stark warning to the Financial Services Authority over the "unintended consequences" of applying proposals in the RDR to the corporate pensions market.

The High Court has ruled it is legal for employers to force workers to retire at the age of 65.

Scheme managers are split over whether the retirement age should be increased to 70.

Employers seeking to reduce costs should consider explicitly targeting employee benefits in a bid to mitigate the unintended consequences of pay cuts on pensions, a HSBC Actuaries and Consultants report says.

UK - Reforms introducing auto-enrolment, employer duties and personal accounts will be staged in over a three year period from 2012, the department for work and pensions said.

US - New York State comptroller Thomas DiNapoli has prohibited New York State Common Retirement Fund (CRF) from doing business with any investment adviser who made a political contribution to the state comptroller or a candidate for state comptroller....

NETHERLANDS - Dutch pension fund investor APG has planned to increase its exposure to private equity by committing €4bn (US$5.9bn) to new investments.

NEW ZEALAND - The Government Superannuation Fund (GSF) in New Zealand saw its deficit jump 123% in the year ended June 30, the scheme said today.

Most employees expect to delay their retirement as a result of the recession, Aon Consulting research reveals.

Three-fifths of employers are set to review their pension arrangements ahead of the introduction of auto-enrolment and personal accounts from 2012, latest research from the Association of Consulting Actuaries reveals.