News

THE Local Authority Pension Fund Forum is continuing its protest against retail giant Marks & Spencer's decision to appoint Sir Stuart Rose as chairman and chief executive.

Chancellor moves the goalposts on pensions; KKR ready to go public with a price tag of $19bn; Fund manager awaits further price falls for distressed debt

UK - Total buyout solvency deficit of FTSE 100 pension schemes has improved by £90bn (US$179bn) during the last 12 months, a report by Pension Capital Strategies Limited (PCS) has shown.

PEOPLE would be better off putting their money under the mattress than saving into personal accounts, Cazalet Financial Consulting claims.

NETHERLANDS - The Bank of New York Mellon (BNY Mellon) has been appointed to service a €3bn (US$4.72bn) global tactical asset allocation (GTAA) mandate by Dutch giant APG Investments.

AUSTRALIA - Workers should be made aware of how far their superannuation fund savings will go in retirement to motivate them, the Australian Securities & Investments Commission (ASIC) has said.

UK - Companies have shown interest in collective defined contribution (CDC) schemes or said the government should change pensions legislation to accommodate such schemes, a survey conducted by Hewitt has revealed.

UK - Alexander Forbes Trustee Services has launched a service which would free insolvency practitioners (IPs) from the liability of being a trustee of an insolvent company's defined contribution (DC) pension scheme.

SOME workers have been warned they may have a gap in their pension provision after outsourced education services at a London borough reverted to the council.

EUROPE - Credit quality continued to decline in Q2 as 41 debt issuers were downgraded, according to Moody's Investor Services.