News

Public sector pensions are still three times more valuable than most private sector arrangements despite government reforms, the Pensions Policy Institute says.

CHINA - Sovereign wealth fund China Investment Corporation (CIC) has denied reports it incurred massive losses through an investment in the Reserve Primary Fund.

SWITZERLAND - UBS and the Swiss National Bank (SNB) have entered into a US$60bn agreement to "materially de-risk and reduce" UBS' balance sheet with a transfer of illiquid securities to a separate fund.

UK - Public sector pensions are still more valuable than most private sector pensions even after government reforms, the Pensions Policy Institute (PPI) says.

ITALY - Consulting firms Mercer and Tesi have merged to create one of the country's largest human resources consultants.

SOUTH KOREA - South Korea's National Pension Service, the nation's biggest investor, said it's in talks to attract a further US$5bn in foreign capital to invest in domestic assets following similar investments.

INCLUDING: US - Committee looks at financial crisis impacts; GLOBAL - SSgA appoints global CIO; US - Hedge fund index down 6.55%

AROUND 2500 Roadchef workers face cuts in pension benefits when their employment status changes on November 1, trade union GMB says.

RoadChef faces strike threat after new contract terms anger workers; Investors face dividend freeze until 2012, analyst warns; Councils step up fight against agencies

THE Pensions Regulator should not overstate the case for standardising data provision, the Society of Pension Consultants says.