News

NETHERLANDS - Pensioenfonds Zorg en Welzijn (PZW) has reported losses of 2.9%, with returns on equities taking the biggest hit (-12.7%).

The Pensions Regulator must improve the regulation and governance of defined contribution schemes, a Committee of Public Accounts report says.

Delays in issuing regulations for the new-look Local Government Pension Scheme has increased implementation costs considerably, AquilaHeywood says.

SWITZERLAND - Credit Suisse lost CHF2.1bn (US$2bn) in the first quarter of 2008, with some 22% of the loss through its asset management business.

Call to focus on "riskier" pensions; Merkel's CDU split by pensions strategy; UBS says investment bank will shrink; Credit Suisse falls into red on $5.2bn writedown

The charging structure of personal accounts must remain attractive despite having to recoup "substantial subsidies", the Society of Pension Consultants says.

DENMARK - ATP Group has recorded losses of DKK2.2bn (US$0.46bn) in the first quarter, with its investment portfolio returning -0.3%.

THE Pensions Regulator has published its second corporate plan , setting out its view of the pensions landscape, strategic direction and outcomes to be achieved during the next three years.

RESOLUTION Asset Management and Axial Investment Management will merge following Pearl Group's takeover of Resolution.

UK - Pension Corporation chief executive Edmund Truell has urged the government to focus on the "real pension issues", after its recent proposal to strengthen the powers of the Pensions Regulator (TPR) to deal with pension buy outs.