News

US- The Fresno County Employees' Retirement Association, Calif. has trimmed its hedge fund of funds allocation by nearly four percentage points a mere six months after adding the asset class to its portfolio.

The Pension Protection Fund levy should be capped and the government act as guarantor, the National Association of Pension Funds says.

US- Consulting firm Mercer has announced plans to acquire US-based consulting firm Callan Associates, creating one of the largest consulting firms in the US.

AUSTRALIA - The superannuation system "is strong, stable, and continues to deliver," but nevertheless requires changes to its operations, structure and cost akin to "renovating the house", Nick Sherry, minister for superannuation and corporate law, told...

IRELAND - Plans to impose a pensions contribution levy on civil servants have been attacked by the Irish Labour party, calling the proposals "unfair" and demanding the government not make "scapegoats" out of the public sector.

US - The Canada Pension Plan Investment Board posted returns of negative 6.7% for the quarter ended December 31 on the back of weak equity markets.

The prime minister has ordered a major review of MPs' pension arrangements which could see the defined benefit scheme switched to defined contribution.

US- The New Mexico Educational Retirement Board last week declined to provide investment documents to a former employee who has filed a law-suit alleging pay-to-play practices at the pension fund.

US- The investment chief at the US$81bn Teacher Retirement System of Texas (TRS) has forfeited his bonus pay estimated at $167,838 until the pension fund posts positive returns for a year.

THE Local Authority Pension Fund Forum has appointed David Sellors to the newly created post of chief operating officer.