News

GREECE - The cost of public pensions in Greece is estimated to rise by more than 20% of gross domestic product by 2050, according to the latest report by the Organisation for Economic Co-operation and Development (OECD).

EUROPE - The European Union Alternative Investment Fund Managers directive could cost Europe's pension fund industry up to €25bn (US$36bn) a year if implemented in its current form, the Alternative Investment Management Association (AIMA) claimed.

NETHERLANDS - The five-year recovery plans of Dutch pension schemes are estimated to shrink the country's future gross domestic product (GDP) by 0.75%, a report by De Nederlandsche Bank (DNB) said.

UK - Devon County Council Pension Fund has appointed managers to run two of the three mandates it tendered for in June.

UK - Unite is set to conduct a consultative ballot on industrial action over pay and pensions involving as many as 2000 of its Fujitsu members.

US - The Fresno County Employees Retirement Association (FCERA) may axe its allocation to infrastructure and divert the funds into a commodities portfolio if the board of trustees approves the change at a meeting tomorrow.

Any significant reform of MPs pensions should wait until a wider review of public sector pensions that seems likely following the general election next year, The Association of Consulting Actuaries says.

Unite is set to conduct a consultative ballot on industrial action over pay and pensions involving as many as 2000 of its Fujitsu members

Lucida managing director Chris Wales has left the company to move on to new opportunities.

FTSE 100 pension schemes turn to bonds; ITV proposes pension shake-up