News

Equitable Life victims ‘should get billions in compensation'; FSA regulators who failed to spot the Northern Rock crisis should lose pensions; Union targets private equity firms over pensions

UK - The £330m (US$660m) London Borough of Kingston upon Thames pension fund has tendered for a transition manager.

INCLUDING: US - CalSTRS' worst performance in six years; JAMAICA - C&W sells off real estate; UK- Ombudsman 'effective and necessary'

US - A pair of Mercer consultants has testified before the ERISA Advisory Council's Working Group on Spend Down of Defined Contribution (DC) Assets at Retirement.

NETHERLANDS - ABP lost €12bn from its overall value with Pensioenfonds Zorg en Welzijn (PFZW) losing €2.4bn in the first half of 2008 due to poor performing equity markets.

MORE than 40pc of defined benefit schemes are expected to close to future accrual in the next five to 10 years, Watson Wyatt figures show.

GLOBAL - Emerging market funds worldwide could be facing a significant reversal, according to Standard & Poor's Fund Services' annual review of the sector.

GLOBAL - The worldwide economic slowdown has impacted fund managers, forcing a revision and polarisation of asset allocations, according to a survey by Merrill Lynch.

UK - Pension fund buyout company Pension Corporation has taken over competitor Synesis Life, a source close to the deal confirmed to Global Pensions.

UK - Over 40% of UK defined benefit (DB) pension schemes are expected to have closed to future accrual within the next five to 10 years, up from the current 6%, Watson Wyatt has found.