News

HERMES has outsourced its custody, investment operations, fund accounting and transfer agency functions to Northern Trust.

ROYAL MAIL faces fresh strike action unless it reverses changes to its pension scheme, the Communication Workers Union says.

THE National Association of Pension Funds has written to over a thousand scheme and human resources managers encouraging them to take-up its free Pensionsforce service.

Royal Mail workers issue fresh strike threat; Police widows' pensions; Up, up, up. Child poverty, pensioner poverty inequality; There is only one route out of poverty

US - Strong returns and favourable discount rates have contributed to the best funded year for Fortune 500 pension schemes since 2001, Mercer's annual retirement plan survey has revealed.

US - Financial pressures have forced Gannett, publisher of USA Today, to freeze its defined benefit (DB) pension plan and enhance its 401(k) offering, according to various reports.

UK - Hertfordshire County Council pension fund has awarded three global equity investment mandates worth £600m (US$1.2bn), as part of a move away from UK equities.

UK - Hermes has appointed Northern Trust as outsource provider in its first move to subcontract the function.

FIDELITY is set to launch a administration service for companies with closed defined benefit schemes.

Trustees could be guilty of maladministration if they fail to advise members buying an annuity about the open market option, The Pensions Advisory Service warns.