News

The latest Professional Pensions Conjecture debate, which looked at the key issues surrounding DC member communication, has gone live.

LEGAL & GENERAL has proposed to cap increases in pensionable salary to 2pc per annum in a bid to reduce scheme liability growth.

GLOBAL - Pension funds in the US and Europe have restricted their securities lending activities as regulators in the US and UK announced a clampdown on short selling of financial stocks.

US - New York City Employees' Retirement System (NYCERS) has bought US$15m of State of Israel fixed rate two-year bonds from the Development Corporation for Israel.

UK - The Pensions Regulator has issued guidelines on effective communication with pension scheme members.

INDIA - Most Indian companies do not offer adequate corporate retirement programmes for their workforce, a study by Mercer has revealed.

US - With just over seven weeks remaining until America's decision day, current economic turmoil is ensuring pensions will be a key issue for presidential candidates Barack Obama and John McCain.

US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for a pension plan covering 760 former employees of publisher Rand McNally.

US - The Financial Industry Regulatory Authority (FINRA) has reached agreements in principle with five firms to settle charges relating to the sale of auction rate securities (ARS), while investigation continues into nearly 50 additional firms.

UK - Legal & General (L&G) has defended changes to its defined benefit (DB) scheme following criticism from union Unite.