News

US - Governor Steve Beshear has announced a special session of Kentucky's General Assembly to discuss the state's public pension crisis.

BANKS failed to adequately implement risk management systems in the lead up to the credit crunch, delegates at The Actuarial Profession's Finance, Investment and Risk Management Convention heard.

US - Public pension funds are on track to meet future obligations but the truth is being distorted by misinformation, a coalition of government officials, retirement systems and unions has claimed.

US - The City of Philadelphia should issue $3bn in bonds to control its current 56% unfunded municipal pension liability, according to Pennsylvania Intergovernmental Cooperation Authority (PICA).

NETHERLANDS - Sweeping reforms to the Dutch labour market and pension system have been unveiled by the Bakker Committee.

Fund managers lobby FSA over proposed shorting rules; Pensioners warned to keep hold of tax records; Investors pour funds into Asian property; Age and employment: The grey army grows mightier every day

GLOBAL - Global investors' confidence rose slightly this month to 81.4, up from 80.9 in May, according to the State Street Global Markets' Confidence Index.

INCLUDING: US - Public plans pay more; CANADA - Higher foreign investment; UK - Schroders wins InterContinental Hotels mandate

AON CONSULTING has launched an annuity finder in a bid to help members of occupational schemes select the right option at retirement.

UK - The £1bn (US$1.95bn) Somerset County Council pension fund has announced a £30m tender for a private equity fund of funds manager.