News

Trustees who fail to record why members are refused incapacity pensions are guilty of maladministration, the deputy pensions ombudsman has decided.

University pension group to put $750m in US private equity fund; Rich Britons retire tax free abroad; Stagflation fear drives investors from equities; Credit crunch losses 'may triple'

THE Actuarial Profession has appointed Gordon Sharp as chairman of the Continuous Mortality Investigation.

THE Environment Agency has gone out to tender for a third-party administration provider for its two local government pension schemes.

GLOBAL - Ontario Teachers' Pension Plan (OTPP) and Morgan Stanley Infrastructure (MSI) have struck a deal to acquire SAESA Group, Chile's second largest electricity distributor in geographical terms.

THE £325m Navy, Army and Air Force Institutes Pension Fund has appointed Buck Consultants to provide investment consulting services.

GLOBAL - The UN Environment Programme Finance Initiative (UNEP FI) has urged pension funds to engage with property managers to embed the UN Principles for Responsible Investment (UNPRI) in their decision making.

SOMERSET County Council Pension Fund is looking for a private equity manager to run a £30m brief.

US - California Public Employees' Retirement System (CalPERS) has doubled its credit enhancement program (CEP) from US$5bn to $10bn, as demand from municipalities unable to secure credit continues.

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