News

THE General Lighthouse Authorities for the United Kingdom and Ireland have appointed Hymans Robertson to help modernise their pension arrangements.

GLOBAL - Private equity investments have experienced sharp falls in returns over the course of the year, while equity markets may be about to bottom out and could represent value, asset managers claim.

AUSTRALIA - The Future Fund, the country's reserve for future superannuation payments, delivered a return of -1.81% over the first quarter of the year.

IRELAND - The National Pensions Reserve Fund (NPRF), which was set up by the Irish government to fund future state and public service pensions, lost more than 17% of its value in the first nine months of this year.

Including: NETHERLANDS - ING requests €10bn bailout; COLOMBIA - Funds diversify through private equity; UK - IMA calls on Europe for accounting clarity; US - New Jersey to use pension to support banks; UK - Pension Corporation appoints group finance partner...

UK - HM Revenue & Customs will try and block a test case launched by the National Association of Pension Funds and the Wheels Common Investment Fund.

UK - MPs tabled amendments to the Pensions Bill today that would introduce measures to protect the benefits of pension scheme members.

US - With pensions funds forced to absorb steep losses during the economic downturn, questions are being asked about the ability of 401(k) defined contribution (DC) plans to provide retirees with sufficient funds, compared with defined benefit (DB) plans....

Workers at the University of Sussex will go on strike today after pensions negotiations broke down between trade union Unite and the institution.

The pension liabilities of the major high street banks are "significantly" greater than their equity market value, Pension Capital Strategies says.