News

US - A fifth of the US population is being failed by financial advisers in terms of their retirement planning, according to analysts Mintel.

UK - Watson Wyatt has called for greater advice and education for defined contribution scheme (DC) members at the decumulation stage to make the most of the options available.

CANADA - The Royal Bank of Canada (RBC) has announced CAN$855m (US$853m) in pre-tax write downs for the last quarter.

Insurers under fire for annuity mis-selling; Lonmin deal set to spur FTSE pension fund buyouts; Speculation grows over Libor changes; Canada spies opportunity

HM Revenue & Customs has pushed back the registration deadline for trustees to comply with its new money laundering regulations for the second time.

LOCAL authority pension schemes have seen mean funding levels increase by 11.4pc since 2004, Professional Pensions can reveal.

NEW ZEALAND - Superannuation funds returned an average -4.7% for Q1 2008 in a second consecutive negative quarter, according to Mercer.

THE trustees of the Friends Provident Pension have bought a bulk annuity with Norwich Union to cover all of the scheme's current pensioners.

UK - In the first deal of its kind, the trustees of Friends Provident Pension Scheme (FPPS) have entered in to a bulk annuity 'buy in' with Norwich Union to de-risk its investments.

THE industry must be aware of the negative overlap between means tested benefits and personal accounts, The Pensions Policy Institute warns.