News

US - The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for the Rockford Products pension scheme, requiring a $23m cash injection.

UK - The University of Southampton's pension scheme for its non academic workers has awarded a contract for actuarial and consulting services to Barnett Waddingham.

THE Personal Accounts Delivery Authority will begin its scheme administration tender process in January 2009.

Nearly 40pc of employees will not take advantage of benefits provided in the workplace, AIG UK Benefits research shows.

GLOBAL - Wilshire Associates and BNY Mellon Asset Servicing have extended their strategic partnership to include clients of the former Mellon Financial Corporation.

AUSTRALIA - Investment managers are increasingly bearish about Australian equities and the listed property sector, Russell's latest Investment Manager Outlook survey has shown.

US - Major private retirement plans have urged the Senate Homeland Security and Governmental Affairs Committee not to bar pension funds from investing in commodities.

AUSTRALIA - Employers who pay late superannuation contributions will no longer be forced to pay twice, the government has announced.

UK - Proposed updates to the Myners' principles should not add to the overall cost and administrative burden of running a pension plan, Watson Wyatt has warned.

THREE-QUARTERS of pension scheme administrators feel undervalued by trustees, Xafinity Paymaster says.