News

Government loses pensions case at Court of Appeal; Study to assess pension impact; Gartmore calls for MCG chief's sacking

SWEDEN - Despite only producing a 4% annual investment return after costs, the second AP fund (AP2) finished 2007 SEK10.7bn (US$1.6bn) up on 2006, with a value of SEK227.5bn.

Threadneedle has acquired Invesco Perpetual's full service defined contribution pension business.

Prudential scrapped price inflation linked increases for its pensioners despite actuarial assurances that agreed additional funding would cover them, the scheme's retired manager claims.

AUSTRALIA - One in two people in Australia has a lost super account, according to new figures.

THE Pensions Policy Institute has appointed Matthew Annable as its new chairman.

Unscrupulous employers could exploit a number of loopholes to avoid paying contributions to personal accounts, consultants warn.

UK - Nearly half of the FTSE 100 companies amended the mortality assumption of their pension scheme last year adding around £6bn (US$11.7bn) to the index's liabilities, according to Watson Wyatt.

UK - The Pensions Regulator's (TPR) action to impose the first Financial Support Direction (FSD) has been welcomed, although cautiously in some quarters.

Cumulus has launched a long/short equity fund in a bid to profit from the financial impact of climate change.