News

AUSTRALIA - David St. John, chief investment officer at UniSuper, will step down at the end of the month.

Local government pension scheme deficit estimated to have hit £100bn; Pension schemes not up to speed on crisis; Stop spending and balance the books, CBI tells Chancellor

US - The California Public Employees' Retirement System (CalPERS) programme to help pension fund members buy and refinance homes almost tripled in size last year.

Friends Provident has implemented an industry-wide open market option system in a bid to speed up the payment of transfers to annuity providers.

There needs to be a proper debate between government and taxpayers about the long term affordability of public pensions, independent consultant John Ralfe says.

NETHERLANDS- ING Group plans to contribute €1.8bn into its pension fund, nearly triple the amount it contributed in 2008.

UK - There needs to be a proper debate between government and taxpayers about the long term affordability of public pensions, independent consultant John Ralfe says.

US - The San Diego County Employees Retirement Association (SDCERA) has launched a search for a new chief investment officer.

CHINA - Robeco has teamed with TEDA International - a Chinese private equity company wholly owned by the Tianjin Government - to form a joint venture clean-tech private equity firm.

SOUTH AFRICA - The R786bn (US$83.2bn) Public Investment Corporation (PIC), which manages pension fund assets on behalf of the South African government, has announced it is to shift R65bn to black African fund managers.