News

UK - The Merseyside pension fund dipped in value this year by -1.3% to £4.26bn (US$7.5bn), its annual report reveals.

UK - A draft code of conduct setting out how the Pensions Regulator will use powers designed to curb pension scheme abuses has been cautiously welcomed by the industry.

Including: AUSTRALIA - ASIC extends ban on covered shorting; FRANCE - State injects €10.5bn into banking system; UK - Aon appoints EMEA benefit leader; GLOBAL - Rich-poor divide growing; DENMARK - Danish govt to abolish compulsory pension scheme

ARGENTINA - Argentine president Cristina Fernandez de Kirchner, grappling with a financial crisis that has frozen access to credit, will propose an overhaul of the pension system that may give the government control of $29bn in privately run retirement...

US - The New Jersey public pension funds incurred a dramatic loss during last month, posting a loss in excess of US$5bn in the value of their assets under management.

EUROPE - A better legal framework should be considered for European private pensions, the European commissioner for social affairs has said.

AMENDMENTS to the Pension Bill to introduce measures to further protect the benefits of scheme members were announced by the government today.

PENSION CORPORATION has appointed Philip Moore as group finance partner.

DEFINED benefit pension scheme funding levels have not been hit as hard as stock market falls would suggest, Mercer says.

THE Universities Superannuation Scheme is set to increase its allocation to alternative investments.