News

INCLUDING: NETHERLANDS - Ping An acquires stake in Fortis; UK - Hewitt takes over New Bridge Street Consultants; US - CalPERS reports Q4 losses; NEW ZEALAND - NZ Super Fund appointment

EUROPE - Campaigners claim pressure on European pension funds to divest from PetroChina is mounting, after members of the European Parliament sold their scheme's stocks in the company accused of bankrolling the Sudanese regime.

US - The US Department of Labor is consulting on a model notice for plan sponsors to inform participants when their plan runs into financial difficulties.

TWO new local government pension schemes have joined the Local Authority Pension Fund Forum taking its membership to 48.

UPDATED clearance guidance for trustees and employers has been published by The Pensions Regulator following an industry-wide consultation.

GLOBAL - Private equity firms are expected to increasingly seek funding directly from institutional investors such as pension funds in order to sidestep financial troubles within the banking industry.

HEWITT ASSOCIATES has bought New Bridge Street Consultants in a bid to boost its executive compensation consultancy.

Should the Pension Protection Fund take investment strategies into account when calculating risk-based levies?

AUSTRALIA - The Australian government must collaborate with the superannuation industry to remove some of the barriers that currently exist for people saving for retirement, according to members of the new Superannuation Advisory Group.

UK - The UK government missed an opportunity to improve structural issues in the inflation linked bond market, when its Budget revealed its borrowing would soar next year to £43bn (US$87bn).