News

Pension fund that dropped £8bn pays £1.8m in bonuses; Insurers sense that pain may come from Solvency II

Union Unite has warned of a "pensions backlash" from thousands of IBM employees over plans to close its final salary pension schemes to future accrual.

US - The Teachers' Retirement System of the State of Illinois (TRS) placed Barclays Global Investors (BGI) on watch for poor performance on a US$593m enhanced equity brief, according to a statement by TRS.

NORWAY - Norway's Government Pension Fund - Global gained NOK309bn (US$51.3bn) in the second quarter, a record gain for the scheme, the Norwegian central bank said today. The pension fund also said it expanded its environmental focus to include water-related...

UK - Personal accounts will complement and not replace existing provision, chief executive of the Personal Accounts Delivery Authority Tim Jones said.

EUROPE - Belief among credit investors in Europe that the worst market disruption is over has surged over the second quarter, according to research from Fitch Ratings.

NETHERLANDS/SWITZERLAND - Dutch and Swiss schemes have shown renewed interest in commodities, MandateWire reported.

Ministerial salaries may be cut if Conservatives are elected; European high-yield bonds are in demand

Some 71% of defined contribution savers who received a "wake-up pack" from providers six months before retirement better understood their options, Association of British Insurers research shows.

Hymans Robertson has boosted its investment consulting team with two new appointments.