News

UK - Nortel UK has approached the Pension Protection Fund (PPF) seeking rescue for its 43,000-member pension scheme, after the company was placed into administration last week.

UK - Japanese and Asian equities specialist Tokio Marine Asset Management (TMA) has launched its London asset management business, targeting UK and continental European institutional investors.

PUNTER SOUTHALL has appointed Dave Watkins to head up its Wokingham pension administration function.

PENSION schemes, government and fund managers have been urged to back a series of proposals on responsible investment to help address the practices that contributed to the current financial crisis.

Extra pressure on companies with final salary schemes by trustees, investors and government could "seriously weaken" businesses and deepen the recession, employers have warned.

CBI warns of pensions vicious circle; TUC urges pensions to take role in recovery; Equitable Life victims face wait for redress

UK - The £3.7bn (US$5.4bn) Merseyside pension fund has awarded four new mandates worth £360m as part of a reallocation to unconstrained investment strategies.

NETHERLANDS - Several large banks and pension funds have met with the Ministry of Finance in The Hague to discuss how best to use the government's €200bn (US$265bn) loan guarantee fund.

RBS shut down its transition management business last week, Professional Pensions can reveal.

The Pensions Advisory Service has questioned the quality of defined contribution information given to members after a surge in calls to its helpline.