News

US - Over half (58%) of state defined benefit (DB) pension plans have funding levels above 80%, the Government Accountability Office (GAO) has reported.

UK - A tool to help trustees and scheme sponsors calculate the impact of the Pensions Regulator's proposed new mortality assumptions has been developed by Hymans Robertson.

Up to half of employees are worried they might lose their jobs in 2008, a Hymans Robertson poll reveals.

RANK GROUP has transferred the assets and liabilities of its £700m scheme to Rothesay Life, a subsidiary of Goldman Sachs.

Private equity raises billions; Aviva flexes asset management arm; Credit crunch threatening to claim new hedge fund victim

UK - The Department for Work and Pensions (DWP) has announced 12,000 jobs will be eliminated in the next three years and 200 offices closed as part of on-going efficiency measures, having recently announced an 11% rise in productivity.

Local Government Pension Scheme benefits could be cut or member contributions hiked as the result of cost-sharing proposals issued last week.

THE presidents of both the Faculty and Institute of Actuaries have urged members to back plans to merge the two bodies.

NORWAY - The Ministry of Finance has appointed Partners Group as real estate consultants in preparation for the national pension fund's possible investment in the asset class.

PART-funded dental plans are the latest employee benefit to be introduced by tyre manufacturer Michelin.