News

Graham Pitcher - one of the directors who resigned from independent trustee firm GP Noble last month - runs another pensions company, PP has learned.

Unite will announce changes to the Prysmian Cables' defined benefit pension scheme next week, after successful negotiations were completed with the company.

The government must start a targeted communication campaign to help small companies cope with personal accounts, the Association of Consulting Actuaries says.

UK - Personal Accounts will lead to a widespread review of pensions and closure of existing schemes in smaller firms, the Association of Consulting Actuaries (ACA) warns.

NETHERLANDS - The €550m (US$795m) Siemens Stichting Pensioenfonds has finished streamlining its asset management system, MandateWire reports.

UK - Estimates of the total size of the bulk annuity buyout market for pension funds may have been overvalued by as much as £7bn (US$12.5bn), actuaries Punter Southall have suggested.

C&W in £1bn pension transfer; Warning on government's occupational scheme; Focus DIY puts private equity in pension spotlight; F&C looks into absolute returns

SPAIN - Spanish pension funds' estimated median returns are positive for the month of August in all the three classes of assets they hold, despite median year to date estimated returns of -3.6%, a survey by Mercer has found.

US - Workers at Boeing have voted overwhelmingly to reject their latest pay and pensions contract offer and take industrial action against the company.

GLOBAL - A majority of employers are not in favour of the changes being proposed by the International Accounting Standards Board (IASB), according to Watson Wyatt.