News

The Pension Protection Fund admitted three more schemes last month, which will result in a further 1054 people receive compensation.

Defined benefit schemes will die unless a way to address the risks of provision can be found, National Association of Pension Funds chairman elect Lindsay Tomlinson warns

Freedom SIPP, owned by high-profile pensions lawyer John Quarrell, has been wound up by the High Court for non-payment of tax.

Final salary schemes in the manufacturing sector have reached the "end game", employers say.

NORWAY - The Norwegian government plans to spend NOK148.5bn (US$26.7bn) of the Government Pension Fund - Global's assets to help spur economic growth, the Ministry of Finance said as it unveiled its proposed 2010 budget yesterday.

AUSTRALIA - The Australian government will mull increasing the mandatory contribution rate from the current level of 9%.

CHILE - Chilean pension funds were up 15% for the year ended September 30, with assets reaching US$106.5bn, according to data released by the Superintendencia de Pensiones, the national pension watchdog.

UK - A Conservative government will investigate early auto-enrolment proposals "as a priority," shadow secretary of state for work and pensions Theresa May said.

EUROPE - Improving investor confidence sparked €143bn (US$213.1bn) of net inflows to European funds in the first eight months of 2009, with €128bn going into UCITS, research showed.

Defined contribution schemes should focus on asset allocation rather than searching for skilled active managers, Watson Wyatt says.