News

Including: US - Raytheon contributes $660m to pension scheme; NETHERLANDS - Investment funds fall 5% in fourth quarter of 2008; US - PBGC joins IFPTE union

A group of pension funds has told pharmaceutical firms they need more information about the industry's emerging market strategies

IRELAND - The Irish parliament has passed the controversial pensions levy bill with officials expecting the proposal to go into law March 1.

UK / US - Swiss Re is shutting down its variable annuities and pensions business in a bid to scale back retirement-related activities.

US- The Federal Bureau of Investigation has arrested four investment managers in three separate cases that allege the managers defrauded investors out of a combined US$680m.

US - General Re Corporation - a reinsurance unit of billionaire Warren Buffett's Berkshire Hathaway - has agreed to pay US$72m to settle investors' claims.

SWITZERLAND - UBS group chief executive Marcel Rohner has resigned and has been replaced by Oswald Grübel.

CANADA - The Caisse de dépôt et placement du Québec has revealed a decline of C$39.8bn in the value of its assets in 2008.

US - State and local government pension plans have a total economic impact of more than US$358bn, a report by the National Institute on Retirement Security reveals.

UK/NETHERLANDS â€" A group of pension funds has told pharmaceutical firms they need more information about the industry’s emerging market strategies.