News

FTSE 100 pension scheme funding levels fell £30bn in the three months to the end of June, Redington Partners says.

WATSON WYATT has hired four consultants to its London-based investment team in a bid to meet growing scheme demand.

INCLUDING: GLOBAL - SWFs consider disclosure; US - Study reveals 60% of retirees could run out of money; MOZAMBIQUE - Minimum pension raised in Mozambique; AUSTRALIA - Super commissions revealed

US - Secretary of labour Elaine Chao has urged women to learn more about managing their earnings, as studies continue to show women lag behind men in retirement planning.

UK - The National Association of Pension Funds (NAPF) has urged the Accounting Standards Board (ASB) to revise proposals on the financial reporting of pension plans, warning they are likely to further weaken and erode UK defined benefit (DB) schemes if...

US - Experts have testified to Congress about the economic importance of pension schemes as long term investors and the central role they play in the US economy.

UK - The £620m (US$1.23bn) London Borough of Haringey pension fund has appointed Hewitt and Hymans Robertson to provide actuarial services and investment advice.

UK - Citigroup has confirmed the head of its insurance and pensions structured solutions group has left the bank.

UK - The performance of equity markets has been blamed for a worsening of the aggregate funding position of defined benefit schemes, with the surplus dropping by £45bn (US$89.3bn) in June.

INCLUDING: ASIA PACIFIC - HSBC senior appointment; UK - Watson Wyatt expands investment team; HONG KONG - FRM appoints Hong Kong CEO