News

THE final member of a small self-administered scheme had to pay penalty tax charges after he tried to take £225,000 as a tax-free lump sum.

CARDANO has hired Rakesh Girdharlal to boost its London-based solutions team.

US - The gap between retirement needs and employee savings behaviors is widening, a study by Hewitt has revealed.

NETHERLANDS - Shell Asset Management (SAMCo) has appointed JPMorgan to provide pooled asset servicing for its pension funds.

IRELAND - Hewitt's Irish managed Fund Index (IMFI) measuring pension fund performance was down 21% over the last 12 months, the consultancy has announced today.

THE number of people enrolled in occupational pension schemes fell by 400,000 in 2007, official figures show.

UK - The number of private sector employees still in open defined benefit (DB) schemes has fallen below the minimum long-term level expected by the Pensions Commission, Watson Wyatt has revealed.

THE Pensions Advisory Service handled a record number of enquiries last year, its annual report reveals.

GLOBAL - The skill sets of fund managers have failed to keep pace with an increasingly sophisticated investment environment, a survey by KPMG has revealed.

UK - Industry figures have offered a luke-warm welcome to The Pensions Regulator's (TPR) wind up guidance.