News

Aon Consulting's third party administration business has implemented the ViaNova data standard for straight through processing with the adoption of Idea Group's Gateway product.

Tesco workers will be able to take advantage of an extra day's paid holiday as a thank you for their work during the festive season.

The Pension Protection Fund has rejected claims it will be forced to cut member benefits as a result of the recession.

More than half of scheme managers want the government to relax section 75 employer debt regulations, a PP poll reveals.

GLOBAL - Large multinationals could see pension liabilities fall by €250bn (US$386bn) due to discount rate distortion caused by the credit crunch, Lane Clark & Peacock says.

US - Motorola has announced it will permanently freeze its defined benefit pension plans and suspend contributions to its 401(k) plan.

US - Following an external search for a new chief executive officer, the California Public Employees' Retirement System has appointed its interim chief investment officer to the role.

CANADA - Bell Canada Enterprises has started court action against the Ontario Teachers' Pension Plan (OTPP) and its partners over the failure of the buyout deal.

GLOBAL - Total exchange traded fund (ETF) assets under management (AuM) have fallen by more than 20% so far this year, but fell less than global markets, according to Barclays Global Investors (BGI).

AUSTRALIA - Northern Trust is to launch a tax and investment accounting solution for superannuation funds in 2009, as part of a plan to deliver a broader range of custody and asset services from its Melbourne office.