News

RBS poised to scale back pension benefits for 62,000 workers; The Fred Factor overshadows the RBS pension plan; Too early to judge effect of Bank strategy; Short-term gilt yields at all-time lows

Regulatory authorities must consider the UK's unique reliance on annuity providers for retirement income when it comes to implementing Pillar I of Solvency II, Mercer says.

Pension funds could achieve greater investment diversification by incorporating insurance-linked instruments in their portfolios, Watson Wyatt says.

Costain is considering closing its defined benefit pension scheme to future accrual due to increasingly disproportionate risks and costs.

The Universities Superannuation Scheme has appointed UBS Global Asset Management - Fund Services to deliver hedge fund of funds administration services.

Royal Bank of Scotland is to cap future increase in pensionable pay to 2% a year or the rate of inflation, which ever is lower.

US - CalSTRS staff and trustees will begin a review of active versus passive management at an investment committee meeting next week.

GLOBAL - Market turbulence has tested the viability of the traditional investment consulting model, a poll by SEI revealed.

SWEDEN - Swedish pension fund AP2 returned 6.4% in the first half of the year as its heavy weighting in equities lifted returns, while AP4 reported returns of 7.9% in the same time period.

INCLUDING: EUROPE - Mercer voices concerns on EU Directive on alternatives; FRANCE - FRR up 10.5% in the second quarter; SWITZERLAND - Funds cover ratio slightly better