News

HSBC Actuaries and Consultants has appointed head of defined benefits Steven Robinson to oversee its strategic trustee and DB market growth plan.

PricewaterhouseCoopers has launched a pensions capital management service in a bid to formalise its existing defined benefits pension financial and risk management advice to sponsoring employers and trustees.

Market volatility will lead to increased take-up of transition management services, Credit Suisse says.

Opponents to the proposed merger between the Faculty of Actuaries and Institute of Actuaries have formed an actuarial defence group to fight the plans.

UK - The government has frozen the general levy and the Pension Protection Fund's administration levy for 2009/10 in a bid to ease pressures on pension schemes.

US - New York City will raid up to US$1.1bn from its retiree healthcare fund to cover a pension plan funding gap over the next couple of years.

GLOBAL - Pension schemes will need to cope with a profits recession, as well as a much more volatile inflation cycle in the near future, Standard Life says.

NEW ZEALAND - All surplus revenue from the premiums of retail and wholesale finance guarantee schemes will be invested in the New Zealand Superannuation Fund, finance minister Michael Cullen pledged today.

GLOBAL - Watson Wyatt Worldwide saw revenues in its investment consulting group rise by 5% between June and September as demand for advice on investment strategy increased.

GLOBAL - The global exchange traded fund (ETF) industry is set to explode, with assets projected to reach US$1trn next year and then double in 2010, data from Barclays Global Investors (BGI) reveals.