News

AUSTRALIA - Industry superannuation scheme members have benefited from more than twice the man hours spent by directors running their fund than retail scheme participants.

The Society of Pension Consultants is set to transfer some of its historical records to The Pensions Archive Trust.

US - New York state comptroller Thomas DiNapoli has axed pension rights for six more officials as part of an investigation into the state retirement system.

WATSON WYATT has boosted its defined contribution pension consulting team with two senior hires.

Including: JAPAN - DC plans go mobile; UK - SEI appoints institutional client service director

PricewaterhouseCoopers pensions investment consulting practice leader Ian McKinlay has been seconded to the Pensions Protection Fund as interim head of investment on a part-time basis.

FRANCE - The €35bn (US$53.7bn) Fonds de reserve pour les retraites (FRR), France's reserve retirement fund, has announced it has dropped two mandates due to "poor financial performance".

CANADA - The Association of Canadian Pension Management (ACPM) has urged the government to make regulatory changes and allow its recommendations for the industry to be carried out.

UK - The pension fund buyout market will continue to grow rapidly as insurance companies invest the assets they take over more cleverly and increased competition forces prices down, according to Lane, Clark and Peacock (LCP).

The number of schemes facing trustee recruitment problems has increased a third in the last 12 months but is still underestimated, Trustees GAAPS says.