News

HEWITT ASSOCIATES has been appointed to provide actuarial and investment advice to the trustees of the House of Fraser, James Beattie and Jenners pension plans.

THE updated Financial Assistance Scheme regulations have come into force.

IRELAND - The Irish government has been urged not to introduce mandatory pensions by the Irish Association of Pension Funds (IAPF), in response to its Green Paper on pensions.

THE increase in the Pension Protection Fund scaling factor means levies will be more than twice as high in 2008/09 than schemes expected, Watson Wyatt analysis shows.

Including: UK - Hewitt selected by House of Fraser; CHINA - Invesco pledges to help quake victims; IRELAND - Mercer managed fund index falls; DENMARK - Pension reforms suggested

Bank of England set to resist calls for interest rate cut; FSA strengthens team

THE Financial Reporting Council has appointed Louise Pryor as director of actuarial standards.

CANADA - The CAN$108bn (US$106bn) Ontario Teachers' Pension Plan (OTPP) has subscribed for an additional convertible debenture in Railpower Technology Group worth $20m.

AIG Investments and Larch Lane Advisors have formed a joint venture to make seed investments in hedge funds.

THE Financial Services Authority has issued proposals to stop insurance companies charging compensation for pensions and other mis-selling to the inherited estates of with-profits funds.