News

INCLUDING: GERMANY - Combined division for AllianzGI KAG; UK - Development actuary joins Hymans Robertson; Switzerland - ORTEC opens Swiss office

UK - The manufacturers' association, EEF, has urged the government provide powers to the Pensions Regulator to ensure potential employees are not discriminated against, following the introduction of the Pensions Bill 2007.

Defined benefit pension scheme deficits rose to an aggregate of £19.6bn in December from £5.2bn in November last year, figures from the Pension Protection Fund shows.

US - The California Public Employees' Retirement System (CalPERS) has launched an attack on HSBC bank over what it views as corporate failings and poor financial performance.

NETHERLANDS - Pensions management firm Cordares has announced two senior appointments.

UK - Better funded defined benefit (DB) pension schemes have reduced their allocations to equities during 2007, with a strong trend towards fixed income and alternatives, according to figures published today by the National Association of Pension Funds...

AUSTRALIA - A multi-billion dollar overhaul of Australia's military defined benefit (DB) superannuation scheme is needed in order to contribute towards recruitment and retention of personnel, an independent review has found.

UK - Pension Corporation has doubled its stake to over 20% in cooker manufacturer Aga Foodservice, a move rumoured to be the start of a full takeover of the company's healthy pension scheme.

UK - Lower gilt yields were to blame for the surge in pension fund deficits during December 2007, which raised liabilities and took 117 schemes back into the red, according to the Pension Protection Fund (PPF).

NEW ZEALAND - The national Superannuation Fund experienced its worst monthly performance of the fiscal year in November 2007, with a negative -3.52% return.