News

The former head of corporate risk management at The Pensions Regulator Martine Trouard-Riolle has been appointed as a senior adviser at Penfida.

Small to medium-sized companies should not provide defined benefit pensions because of the risk it brings to the corporate balance sheet, Alexander Forbes says.

A trustee has been ordered to repay his scheme almost £90,000 after both the pensions ombudsman and the High Court found him in breach of trust.

Pensions flip; Norwich Union cut is blow for with-profits; Banks bounce as market cautiously welcomes US plan

GLOBAL - The US$700bn Emergency Economic Stabilization Act, approved by the US Senate last night, fails to address the fundamental economic problems of pension schemes, industry experts have said.

US - The Securities and Exchange Commission (SEC) has extended its ban on short selling until the middle of the month, when the controversial bail-out bill is expected to be passed.

Including: JAPAN - Mitsubishi takes stake in Aberdeen; NORDICS - IAM opens Stockhom office; UK - BNY Mellon appoints head of client relationship; JAPAN - La Salle appoints new client service head; UK - AXA IM strengthens FoHF team; UK - Penfida appoints...

CANADA - The Ontario Teachers' Pension Plan (OTPP) has introduced a change to its cost-of-living allowance, in order to eliminate a C$12.7bn (US$11.9bn) shortfall reported earlier this year.

IRELAND - Irish managed funds have suffered negative returns for the fifth consecutive quarter, Hewitt Associates monthly index shows.

US - Standard & Poor's (S&P) has launched a US Commercial Paper Index, the first such product from a major index provider.