News

Concern has been raised on whether the Pension Protection Fund has collected enough in levies to be able to meet all its liabilities, Alexander Forbes says.

NORTHUMBERLAND County Council has gone out to tender for an independent investment adviser to its pension fund.

The Association of Consulting Actuaries has written to the pensions reform minister in a last ditch attempt to get conditional indexation written into the Pensions Bill.

WATSON WYATT has restructured its manager research team in a bid to make its global methodology more consistent.

CYPRUS - Sodexo has re-appointed Hewitt Associates to provide actuarial and investment consulting and administration services to its retirement and medical funds in Cyprus.

CANADA - Public and private pension funds consider generating returns in the current environment to be the biggest problem facing retirement plans at the moment, a study by Fidelity Investments' institutional asset management arm has found.

ROMANIA - The current financial crisis does not endanger the funding of the private pensions market in Romania, the Comisia de Supraveghere a Sistemului de Pensii Private (CSSPP) has claimed.

UK - The British Broadcasting Corporation's (BBC) pension scheme has had £1bn (US$1.6bn) stripped from its value, with total assets reported to stand at £6.9bn.

MIDDLE EAST - BNY ConvergEx Group has appointed Motaz Ibrahim as vice president and head of product sales for BNY Global Transition Management in the Middle East.

NETHERLANDS - The country's two biggest pension funds have announced declines in their coverage ratios, with ABP required to draw up a recovery plan by the Dutch regulator after falling to 118%.