News

Forced opt-out of workers from pension face ban; Rising costs of living cut into pensions

THE Pension Protection Fund could collect around £160m more than its target of £675m through the buffer built into risk-based levy demands, a consultant claims.

LINKLATERS has launched an initiative to help those responsible for managing pension fund issues at a corporate level.

US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the Rockford Products pension scheme, requiring a $23m cash injection.

UK - The University of Southampton's pension scheme for its non academic workers has awarded a contract for actuarial and consulting services to Barnett Waddingham.

THE Personal Accounts Delivery Authority will begin its scheme administration tender process in January 2009.

Nearly 40pc of employees will not take advantage of benefits provided in the workplace, AIG UK Benefits research shows.

GLOBAL - Wilshire Associates and BNY Mellon Asset Servicing have extended their strategic partnership to include clients of the former Mellon Financial Corporation.

AUSTRALIA - Investment managers are increasingly bearish about Australian equities and the listed property sector, Russell's latest Investment Manager Outlook survey has shown.

US - Major private retirement plans have urged the Senate Homeland Security and Governmental Affairs Committee not to bar pension funds from investing in commodities.