News

AUSTRALIA - The wholesale fund market fell 2.5% over July, the third consecutive month of falls, with total funds under management (FuM) standing at AUS$287bn (US$247bn), according to figures released by DEXX&R.

Including: UK - Sainsbury's looks to de-risk scheme; CHINA - HSBC and BoCom agree pension joint venture; US - Academy of Actuaries appoints senior pension fellow; Europe - Western Europe set to follow Eastern European countries

National Association of Pension Funds workplace education service Pensionsforce has launched a website to help employers and employees plan for retirement.

The number of final salary schemes open to new employees has plunged from 28pc to just 17pc in a year, Aon Consulting says.

UK - Balanced pooled pension funds results for the month of July improved from the previous month, a study by BNY Mellon Asset Services has revealed.

FINLAND - Finland's State Pension Fund (VER) investments yielded a return of -6.4% in the first half of 2008, compared to 3.4% in the same period of 2007, the fund has announced.

Metlife Assurance has appointed Dan DeKeizer as chief executive of its UK pension liability transfer business.

UK - Norfolk Pension Fund, which oversees retirement provision for some 52,000 employees, has awarded an active currency mandate to Goldman Sachs Asset Management.

The £30bn Universities Superannuation Scheme has taken part in a £605m sale and leaseback property deal with supermarket firm Tesco.

Defined benefit pensions fall further; Pensions in buyout bonanza; Leading British companies to slice dividends as slowdown bites