News

Investment risk has been switched to the employee; Nonsense about 'counterparts'; BBC in talks with Woolworths as pensioners fear worst

UK - The lifeboat fund for pension scheme members under the control of insurance companies is to consult on whether to scrap the 100% guarantee on the first £2000 of benefits.

SWEDEN - Pressure from Swedish pension funds has forced the operators of a UK detention centre to address inhumane conditions.

US - Defined benefit (DB) pension plans sponsored by the largest US firms suffered their second consecutive month of record losses - with asset values falling by more than US$130bn last month, Mercer says.

US - The investment functions of five Illinois pension schemes are set to be merged under proposals put forward by state treasurer Alexi Giannoulias.

THE Personal Accounts Delivery Authority may provide members with access to a panel of annuity providers to simplify the buying process of a retirement product.

Real public sector pension costs remain hidden; Tudor fund halts redemptions

UK - The Personal Accounts Delivery Authority (PADA) may provide members with access to a panel of annuity providers to simplify the buying process of a retirement product.

The Financial Reporting Council has published a document to help audit committeees meet the challenges thrown up by the current financial crisis when preparing end of year corporate reports.

THE Society of Pensions Consultants has written to the three political parties urging them to debate how best to support pensions in the economic downturn.