News

INCLUDING: US - Delphi; US - Lockheed earnings cut by pension costs; SWEDEN - Swedes not to work over 65.

The government has rejected renewed calls to provide compensation to Equitable Life policyholders who lost out when the insurer was forced to close to new business in 2001.

The £330m Royal Borough of Kingston upon Thames Pension Fund has appointed eight managers to run its scheme.

Mercer has made two appointments within the manager research team in its investment consulting business.

The Financial Services Authority has fined HSBC Actuaries and Consultants £875,000 for having lost personal information of 1917 pension scheme members.

One in two financial advisers admits to failing to have a thorough knowledge of the annuities market, Annuity Clearing House research reveals.

UK - HSBC Actuaries and Consultants was fined £875,000 (US$1.4m) by the Financial Services Authority (FSA) for having lost personal information of pension scheme members.

Friends Provident has halted discussions on a take-over proposal by Resolution due to structural and governance concerns, the insurer says.

The Personal Accounts Delivery Authority spent £30.8m in the year ended March 31.

The pensions ombudsman's office has cleared its long-standing backlog of unresolved cases during the past 12 months, its annual report reveals.