News

IRELAND - The trustees of the Arnotts Staff Pension Fund are reportedly set to split €100m in surplus between the department store's former and current staff and the company.

SWEDEN - The value of the AP7 fund has fallen by SK5bn (US$788m) to SK80bn ($12.6bn) as a result of the US sub-prime crisis and the credit crunch.

IRELAND - The dispute between unions and the Bank of Ireland over the scrapping of its defined benefit scheme is over after the bank accepted Labour Relations Commission proposals last week.

US - The Supreme Court is set to hear a case today which could potentially shake up pension protection law.

CANADA - The federal government wants to convince Canadian pension funds to invest in the country's infrastructure, in order to capture some of the billions being placed overseas.

CANADA - The Nova Scotia government is looking to amend its legislation to ensure all pension plans are fully funded when a company leaves the province or winds down its pension plan.

UK - Airport workers are set to decide if they will strike over pension concerns, in a move which could throw Christmas travel into chaos.

STATE Street Corporation has launched a private equity index in a bid to provide investors a benchmark for their portfolios.

CANADA - The Alberta government has agreed to fund C$6.4bn in liabilities in the Teachers' Pension Plan, removing the burden from taxpayers.

The Financial Reporting Council has launched the full report into its review of the Combined Code on Corporate Governance, with two proposed amendments.