News

TRUSTEE champion Brian Holden is developing a governance structure for pension schemes to coincide with two EU initiatives.

SCOTTISHPOWER has appointed Capita Hartshead to administer its two pension schemes.

US - pension funds grappling with volatility and plummeting stocks in the current market should focus on the light at the end of the tunnel, according to a recent Russell Investments study.

Economy heads for recession as growth slumps; Credit Suisse cautious despite return to profit; JP Morgan leads possible HBOS break-up; S&P warns on traditional loan book losses

GLOBAL - Sovereign wealth funds (SWFs) are expected to lead the move into new alternatives in the next decade, but are in no rush to do so say industry professionals.

INCLUDING - CalPERS reassures members over budget deadlock; NPRF reports terrible H1; Quebec bill 68 gets go ahead; PBGC injection to Norwegian-owned fund

FRANCE - The effectiveness of France's controversial 2003 'Fillon reforms' has been questioned by the Caisse nationale d'assurance vieillesse (CNAV), the general public sector social security retirement system.

AUSTRALIA - About two thirds of the A$61.48bn (US$59.78bn) Future Fund assets have been left in cash in bank accounts, an amount that equals up to 4% of total bank deposits in Australia in the last year.

Friends Provident is set to launch a default fund for defined contribution pension schemes to diversify investment options and reduce risk.

Additional voluntary contribution scheme members and other policyholders who saw investments with Equitable Life slashed should not get compensation from the public purse, actuaries say.