News

Workplace pension reforms will cause substantial costs and administration increases for small and medium enterprises, the Association of Chartered Certified Accountants warns.

The Pensions Regulator is set to launch a campaign on governance and administration as part of its overall strategy to get employers more involved with pensions ahead of 2012.

The Universities Superannuation Scheme has bought an industrial park in West London for £110.4m.

Tate & Lyle has begun a consultation with employees over the closure of its defined benefit scheme to future accrual from April 2011.

Workers at Fujitsu will strike for three days next week over jobs, pay and pensions at the IT services company, Unite says.

British Airways saw its net pensions deficit increase from £307m to £2.6bn following an interim valuation.

AUSTRALIA/CANADA - Transurban Group, Australia's biggest toll road operator, rejected an unsolicited A$6.8bn ($6.2bn) takeover offer from Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan, Bloomberg News reported.

DENMARK - The government's measures to prevent pension funds from offloading mortgage bonds has helped strengthen the Danish economy, the OECD said.

US - A Congressional vote yesterday cleared the way for pension funds and other shareholders to nominate board directors.

UK/US - Pensions trade bodies in the UK and US have agreed to share information they believe will help them strengthen defined benefit schemes.