News

SINGAPORE - The Government of Singapore Investment Corp. (GIC) yesterday said it made a US$1.6bn profit on its $6.88bn investment in troubled bank Citigroup.

NETHERLANDS - Dutch pension fund PNO Media awarded a US$146m global emerging markets equity mandate to Principal Global Investors.

The Conservatives will restore the link between earnings and the level of the basic state pension should they win next year's general elections, David Cameron says.

Earnings link to pensions pledge; State Pension Cap will hit elderly

Widespread apathy towards private pension plans remains one of the biggest challenges facing the industry, research by Baring Asset Management reveals.

Investors are bringing retirement plans forward and buying annuities now to take advantage of the recent rally in equity markets, Hargreaves Lansdown says.

Barratt Developments has posted a £7.1m gain in income as a result of closing its defined benefit scheme to current employees.

US/UK - The US should adopt the UK's practice of allowing shareholder advisory votes on executive compensation, a new report released today argued.

IRELAND - The Irish government is set to consider cuts to public pensions in the upcoming budget in a bid to close a gap in public finances of over €20bn (US$29.6bn).

AUSTRALIA: Future Fund invests in UK property; NEW ZEALAND: NZ Superannuation up 6.31%; CANADA: CPPIB