News

New strike threat is looming for Royal Mail; Pension changes could lead to record final salary deficit; Ballooning sector continues to rise

UK - The Policy Exchange has slammed the government on pensions, claiming its reforms lack ambition and personal accounts are a 'disaster waiting to happen'.

UK - The £1.2bn (US$2.4bn) North Yorkshire Pension Fund has selected AllenbridgeEPIC Investment Advisers (AEIA) to provide independent professional advisory services on governance and compliance.

US/CANADA - Pension plans have begun to extend shareholder action beyond the US by using Canadian courts in their bid to protect the rights of beneficiaries.

US - The Pension Benefit Guaranty Corporation (PBGC) has sold almost six million shares in Delta Air Lines.

GLOBAL - Managers' fees in the alternatives sector have been condemned as unacceptable, with one pension fund accusing asset managers of creating a "cartel".

TRUSTEES should ensure scheme wind-ups or PPF assessments are completed within no more than two years, says a joint consultation paper published today.

AUSTRALIA - Speculation is mounting that Treasurer Wayne Swan will devote part of the 2008-09 budget surplus to improving superannuation savings.

PENSION scheme surpluses have rose to an all time high of £21bn at the end of February, latest research from Aon Consulting reveals.

Dutch pension fund ABP has announced the name of its new subsidiary - All Pensions Group (ABG).