News

EUROPE - The economic crisis could quicken the pace at which companies shut down their defined benefit (DB) plans in favour of defined contribution (DC) plans, the European Commission says.

UK - The £1.4bn Avon Pension Fund has hired Partners Group and Schroders to manage a property mandate worth approximately £180m.

US - The Securities and Exchange Commission has charged a US money manager with allegedly inventing clients to inflate the amount of assets under management at the firm.

US - S&P has released the first in a range of global low carbon indices, designed to meet increasing investor demand for environmentally focussed indices.

US - Many workers affected by California's budget deficit-reducing furlough scheme will not face lower pensions, thanks to an agreement reached between the state and a major union.

GLOBAL - Troubled insurer Swiss Re has nominated former chief executive Walter Kielholz as its new chairman, replacing Peter Forstmoser.

The first round voting for the Pensions Personality of the Year has now closed.

Pension accounting standard FRS17 should be immediately suspended after the implementation of quantitative easing by the Bank of England, Baring Asset Management says.

Pension schemes are considering a shift towards gilt-based scheme specific funding valuations, Hewitt Associates research reveals.

The Pension Protection Fund has appointed Capita Hartshead to administer its compensation payments for the next five years.