News

Including: US - Congress backs Paulson bail-out plan; UK - Bradford and Bingley nationalised; BENELUX - Governments back Fortis

UK - The pensions' buyout market will have to grow by almost £250bn ($450bn) over the next three years if the current levels of demand from trustees are to be met, according to research.

NEW ZEALAND - The Guardians of New Zealand Superannuation have confirmed the fund has lost nearly 5% on its investments over the past year - a pre-tax loss of NZ$716m ($484m).

CANADA - The $108.5bn Ontario Teachers' Pension Plan (OTPP) has increased its total holding in the equity of Hammerson plc to 8,950,000 ordinary shares, representing approximately 3.1% of the issued ordinary share capital of the company.

Hermes has offered its clients the opportunity to pay rent monthly rather than quarterly to ease the strain caused by market volatility.

Industry fears over personal accounts revolve around employer contribution duties not the scheme itself, the Personal Accounts Delivery Authority says.

AON CONSULTING has appointed Chris Simmons as national operations manager and Andrew Leslie as head of operations.

Pension Protection Fund holds steady to aid employers; Pension plan will shun hedge funds; Central banks step in as bail-out fears mount; We need international regulation to protect global economy, Brown tells world leaders; Don't make City a scapegoat...

Public faith in the security of pensions fell dramatically in the wake of Lehman Brothers' collapse and the FTSE100 share drop, The Pensions Advisory Service says.

John Menzies has appointed Hymans Robertson to act as investment and actuarial adviser to its pension schemes.