News

US - The Laborers' International Union of North America pension funds have called for more rigorous executive compensation reforms to improve the pay-for-performance features of each company's plan.

UK - GLG Partners is to acquire the Société Générale Asset Management UK, with the transaction expected to close in the second half of Q1 2009.

US - New York has unveiled reforms, including changes to public pension schemes, in a bid to eliminate the largest budget deficit in the state's history.

Including: UK - Unions back changes to BT scheme; US - More 401(k) freezes introduced; UK - NAPF helps trustees deal with transactions

UK - Defined contribution (DC) schemes will move increasingly to target date funds over the course of 2009, with greater emphasis on member engagement industry experts claim.

There will be no Global Pensions newswire between 22 December 2008 and 4 January 2009. The Global Pensions team will resume normal service on 5 January 2009.

AUSTRALIA - The global financial crisis could mask the risk of long-term demographic trends, Mercer warns.

GLOBAL - Canada Pension Plan Investment Board (CPPIB) has committed €250m (US$350m) to a Turkish retail property fund.

Large multinationals could see pension liabilities fall by €250bn (£235bn) due to discount rate distortion caused by the credit crunch, Lane Clark & Peacock says.

Decade of decline for elderly savers; Public pension gulf