News

NETHERLANDS - The €208bn (US$281bn) ABP pension fund will increase contributions by 3 percentage points, withhold indexation and de-risk some of its investments in a bid to return to solvency within five years.

US - The Iowa Public Employees Retirment System (IPERS) has recovered US$35m from Westridge Capital Management, whose principals were arrested on charges of conspiracy and fraud in February.

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The Rexam Pension Plan is to close its two defined benefit schemes to new members and replace it with another final salary arrangement.

More than a quarter of pension professionals feel "very nervous" over their job security, research by GRS Group reveals.

The average UK pension fund achieved a weighted average return of -13.6% in 2008, research from BNY Mellon Asset Servicing reveals.

CANADA - The Canadian Minister of Finance has unveiled regulations to provide temporary solvency funding relief to federally regulated defined benefit pension plans.

EUROPE - Crédit Agricole Structured Asset Management (Casam) and the Edhec Risk and Asset Management Research Centre have jointly created a new research chair in core-satellite and ETF investment.

NETHERLANDS - The €71.5bn (US$94.3bn) PFZW pension fund has confirmed it will freeze pension increases for a total of four years in a bid to restore solvency.

Hewitt Associates has reappointed Gavin Tillman to its UK investment consulting team.