News

GLOBAL - The Principles for Responsible Investment (PRI) is planning to launch a global and non-commercial database on investment research focused on environmental, social and governance (ESG) issues.

INCLUDING: US - CalPERS appoints new Benefit Services Division chief; CANADA - OTPP acquires stake in Maple Leaf; NETHERLANDS - ING closes purchase of Oyak Emeklilik

IRELAND - Members of defined contribution schemes may soon have the option to defer the purchase of an annuity when they reach retirement, the Irish government says.

GERMANY - The €2.4bn (US$3bn) North Rhine-Westphalia mandatory buffer fund for civil servant pension provision (Versorgungsrücklage) has awarded around €800m to Deutsche Bundesbank this month, MandateWire reports.

US - The funding status of the average US pension plan has declined to around 75% from a roughly fully funded status at the start of the year, Merrill Lynch estimates.

JLT Benefit Solutions has appointed Jerry Edmondson as a head of benefit communications.

THE cost of providing employees with a career average revalued earnings pension could become 10pc cheaper in 2009, Hymans Robertson says.

The Principles for Responsible Investment is planning to launch a global and non-commercial database on investment research focused on environmental, social and governance issues.

FSA urges banks to buy bonds; Credit Suisse axe 11% of workforce

EUROPE - The European exchange traded fund (ETF) industry will exceed US$200bn next year in spite of the economic downturn, Barclays Global Investors (BGI) says.