News

FINLAND - The challenges of an ageing population and rising health costs are posing risks to the long term sustainability of Finland's public finances, the OECD's annual economic survey of the country has warned.

UK - Changes to retirement savings laws due to come into effect in 10 months time could lead to savers facing significant tax penalties, according to Watson Wyatt.

THE department for work and pensions is consulting on introducing new types of pension schemes to more evenly share risks between employers and individuals.

HEWITT ASSOCIATES has been appointed to provide actuarial and investment advice to the trustees of the House of Fraser, James Beattie and Jenners pension plans.

THE updated Financial Assistance Scheme regulations have come into force.

IRELAND - The Irish government has been urged not to introduce mandatory pensions by the Irish Association of Pension Funds (IAPF), in response to its Green Paper on pensions.

THE increase in the Pension Protection Fund scaling factor means levies will be more than twice as high in 2008/09 than schemes expected, Watson Wyatt analysis shows.

Including: UK - Hewitt selected by House of Fraser; CHINA - Invesco pledges to help quake victims; IRELAND - Mercer managed fund index falls; DENMARK - Pension reforms suggested

Bank of England set to resist calls for interest rate cut; FSA strengthens team

THE Financial Reporting Council has appointed Louise Pryor as director of actuarial standards.