News

UK - The Vivendi 2008 Pensioners' Scheme is set to buyout its pensioner benefits through a deal with MetLife Assurance.

EUROPE - A study of European retirement systems shows a wide range of pension provisions throughout the continent, says Allianz Global Investors.

Personal accounts backed; Aviva prepares for furore over cut to £1bn payout to policyholders; Jeremy Warner: A manifesto to save the free market

JLT Benefit Solutions has appointed James Lewis as a senior sales consultant working across its administration services.

IRELAND - The Irish government has announced plans to introduce a new contribution rate for civil servant pension schemes, which could save it €1.4bn (US$1.8bn) this year.

EUROPE - European investors embraced passive management and de-risking strategies in 2008 following stock market downturn and a lack of faith in alternative asset classes.

UK - Auto-enrolment into workplace pensions will benefit 95% of the working population and 70% can expect to get back twice what they put in, the government has said.

DENMARK - The DKK355bn (US$61.3bn) ATP pension fund lost DKK17.8bn over 2008, due mainly to declining equity values, the fund has said.

GLOBAL - The 163-page list of the clients of Bernard L Madoff Investment Securities has been made public.

Darling signals tax cut for savers; Creditors demand investigation over timing of Woolworths collapse; BP dividend cash pledge cheers British pension funds