News

US/UK - The US Bankruptcy Court has rejected objections to an agreement which gave the pension schemes of Sea Containers Limited (SCL) status as substantial creditors.

US - A year of financial instability culminating in last week's turmoil has hit pension funds on a global scale but New Jersey claims to have bucked the trend through sound investments and its pension fund structure.

UK - Local authorities are hiring independent firms to monitor and hire fund managers in a bid to improve governance procedures, Inalytics says.

INCLUDING: CHINA - Pension fund overseas investments hits $2bn mark; UK - Schroders sends pensions administration to Aon; AUSTRALIA - Millennium Global Investments wins active currency overlay mandate; UK - New head of strategy at CAAM; UK - Mercer wins...

AUSTRALIA - Legislation has been introduced to the House of Representatives to deal with the lost superannuation of temporary residents.

GLOBAL - Superannuation and pension funds in Australia are being encouraged to adopt best practice in managing the risks and opportunities of climate change, through an initiative launched by minister for superannuation and corporate law Senator Nick...

UK - John Menzies has appointed Hymans Robertson to advise its pension scheme trustees on both actuarial and investment decisions.

UK - The Pension Protection Fund (PPF) has confirmed it will set a levy estimate of £700m ($1.3bn) for 2009/10.

Trustees of the £1.3bn Thales UK Pension Scheme has appointed Cardano to act as investment adviser.

Small businesses with no staff pension should be offered a default arrangement ahead of 2012 to ensure compliance with personal accounts, Xafinity Paymaster says.