News

Investor rush to pull out of funds; Use local authority pensions for sovereign wealth fund; Complacency will be pension funds biggest killer; Fears about pension fund shortfalls hit blue chips

US - The New York State Common Retirement Fund (CRF) invested US$238.2m of assets in February, a report issued yesterday by State Comptroller Thomas DiNapoli revealed.

Sandy Crombie is to step down as group chief executive of Standard Life this year, the company has confirmed.

Contributions to occupational pension schemes increased from £49bn in 2001 to £85.2bn in 2007, office for national statistics figures reveal.

Pensions scheme administrators will still have to wait another six months for HM Revenue & Customs to relax the rules on trivial commutation, Allen & Overy says.

Here it is. The final shortlist for this year's Pensions Personality of the Year.

GLOBAL - Assets flowing into fund management firms halved in the year ending December 31, 2008, a report by Casey Quirk and eVestment Alliance has revealed.

UK - The South Yorkshire Pensions Authority was "negligent" over the investment of £10m of deposits in a failed Icelandic bank after it had been downgraded by credit ratings agencies, the Audit Commission says.

The South Yorkshire Pensions Authority was "negligent" over the investment of £10m of deposits in a failed Icelandic bank after it had been downgraded by credit ratings agencies, the Audit Commission says.

ROMANIA - The International Monetary Fund has reached a €12.95bn (£12.1bn) support deal with Romania in a bid to help the country through the economic crisis.