News

MORE than 12,100 people are now receiving Pension Protection Fund compensation or will receive it in the future, the lifeboat fund says.

US - Large companies could lose more than the $70bn which has already vanished off balance sheets through their pension funds in 2008, according to Mercer.

THE NETHERLANDS - Just over half of all fiduciary managers operating in the Dutch market are foreign, according to a survey conducted by Bureau Bosch.

SPAIN - FTSE and Bolsas y Mercados Españoles (BME) have launched a responsible investment index for companies displaying good corporate responsibility.

A THIRD party administrator has been fined £525,000 for failures in its systems and controls for producing and issuing documents to life and pensions policyholders.

THE Pensions Management Institute's Spring programme offers top quality speakers addressing current hot topics in bite size portions.

AUSTRALIA - The federal government had been urged by the Australian Securities Forum (ASF) to enhance the country's mortgage backed securities (MBS) market and encourage superannuation fund investment in the field.

UK - Martin Harris has resigned as head of UK defined benefit (DB) at Fidelity.

AUSTRALIA - Superannuation trustees must be able to justify their investments in riskier asset classes such as private equity, minister for superannuation and corporate law Nick Sherry has warned.

SCOTTISH WIDOWS has reduced the number of fund managers in its life and pensions fund range from 17 to 12 following a major review.