News

CANADA - Air Canada has raised more than C$1bn (US$937) in order to meet requirements for its recently amended pension and work arrangements.

US - Exxon Mobil poured US$3bn into its pension scheme during the second quarter, David Rosenthal, secretary and vice president of investor relations said in an earnings call yesterday.

UK - Fiduciary managers are teaming up with the National Association of Pension Funds to develop a standard definition of the service, set to be revealed next year.

NETHERLANDS - The €545m (US$769m) Stichting Pensioenfonds Siemens has raised the prospect of joining the €18.7bn industry-wide pension fund PME, but deliberations stalled when the fund's coverage ratio fell to 90%, MandateWire reported. In the meantime,...

Fiduciary managers are teaming up with the National Association of Pension Funds to develop a standard definition of the service, set to be revealed next year.

Jardine Lloyd Thompson has seen its pension deficit increase by £57m to £86m, according to the group's first half results.

BAE Pension deficit soars; Pension plan rethink welcomed; BT pension deficit soars to £5.8bn as profits fall.

More than four-fifths of scheme managers believe there is a need for an independent pensions commission to recommend changes to pension legislation and provide long-term continuity over pensions policy.

BAE Systems' UK defined benefit pension scheme deficit increased by £1bn in the first six months of the year.

GLOBAL - Net outflows from long-term investment funds worldwide slowed to €5bn (US$7.1bn) in the first quarter of 2009 after an average outflow of €211bn per quarter in the second half of 2008, data by the European Fund and Asset Management Association...