News

IRELAND - The Office of the Comptroller and Auditor General (C&AG) has placed out a tender for an actuary to conduct a wide ranging review of the Irish Public Service Pensions.

Hornbuckle Mitchell has reported strong first quarter sales with an increase of 14pc in new self-invested personal pensions compared to last year.

UK - The Financial Reporting Council (FRC) has issued two discussion papers aimed at highlighting the need for improving standards across the actuarial industry to allow users of actuarial services to be confident in the information received.

Funding for a series of pensions education projects will be extended until March 2009, the government announced.

The Association of Consulting Actuaries has elected Keith Barton as its new chairman.

FRANCE - ERAFP, the French public service additional scheme, has announced it is to tender €1.2bn (US$1.88bn) of international equities and investment grade Euro denominated bonds over the next three years.

US - The State of Illinois Teachers' Retirement System (TRS) has expanded its US$500m emerging managers programme to include private equity, real estate, and absolute return investment management firms.

INCLUDING: EUROPE - BNP completes first Eastern European deals; CANADA - CPP totals CAN$122.7bn; ASIA - Threadneedle opens Asian office

Scottish Widows has given 'allegedly negligent advice' to around a hundred final salary pension schemes, Actuarial Review Company claims.

Trustees should consider compliance with the T-Charter becoming a requirement within all transition management agreements, the National Association of Pension Funds says.