News

UK - Trustees of pension schemes whose company sponsors have ceased trading should now be able to claim VAT on incurred expenses following a court ruling.

New calls for an independent pensions commission to ensure consensus around long-term goals have been made by the Pensions Policy Institute.

UK - Northamptonshire County Council Pension Fund is to split its investment and actuarial consulting mandate, currently held by Mercer.

UK - Scotland's police budgets are being "plundered" in order to deal with a pensions' shortfall, Labour leader Wendy Alexander has claimed.

GLOBAL - Former SEI Investments global chief executive Karl Dasher has joined Schroders as head of product and marketing.

CANADA - At current contribution rates, the reserves of the Québec Pension Plan (QPP) will be completely drained by 2051, the chief actuary of Canada has warned.

The Alternative Investment Management Association has launched its new Offshore Alternative Fund Directors' Guide.

NORWAY - The Government Pension Fund - Global has pledged its continued devotion to ethical investing, in a speech given by Norges Bank Investment Management (NBIM) governor Svein Gjedrem.

US - Continental Airlines significantly over funded its pension liabilities in 2007, contributing almost US$150m more than the plan minimum, with an additional $130-200m of plan payments announced a few days ago.

US - Northern Trust posted strong earnings and dividends compared to 2006 despite global unease stemming from the sub-prime crisis and the credit crunch, its Q4 2007 financial results revealed.