News

UK - A majority of trustees are bullish about the long term prospects for their pension schemes, with over half (58%) of those currently in deficit believing they will be in surplus in a decade, according to research from Aon Consulting.

The significant number of pension scheme buyouts in recent months is just the "tip of the iceberg", Watson Wyatt says.

IRELAND - The Office of the Comptroller and Auditor General (C&AG) has placed out a tender for an actuary to conduct a wide ranging review of the Irish Public Service Pensions.

Hornbuckle Mitchell has reported strong first quarter sales with an increase of 14pc in new self-invested personal pensions compared to last year.

UK - The Financial Reporting Council (FRC) has issued two discussion papers aimed at highlighting the need for improving standards across the actuarial industry to allow users of actuarial services to be confident in the information received.

Funding for a series of pensions education projects will be extended until March 2009, the government announced.

The Association of Consulting Actuaries has elected Keith Barton as its new chairman.

FRANCE - ERAFP, the French public service additional scheme, has announced it is to tender €1.2bn (US$1.88bn) of international equities and investment grade Euro denominated bonds over the next three years.

US - The State of Illinois Teachers' Retirement System (TRS) has expanded its US$500m emerging managers programme to include private equity, real estate, and absolute return investment management firms.

INCLUDING: EUROPE - BNP completes first Eastern European deals; CANADA - CPP totals CAN$122.7bn; ASIA - Threadneedle opens Asian office