News

UK - The UK arm of the Philips Pension Fund is considering hiring a fiduciary manager, according to industry sources.

UK - Qatari investment company Delta Two has abandoned its takeover bid for supermarket J Sainsbury's, blaming poor credit markets and issues with funding its pension scheme.

TRUSTEES must adjust their mortality tables to take account of latest Continuous Mortality Investigation findings, Punter Southall urges.

Schemes and trustees must ensure there is a procedure in place to resolve disputes within "a reasonable period", The Pensions Regulator warns.

Pension funds in South Africa, Ghana and Nigeria are funding state economic development.

The National Association of Pension Funds has appointed David McCourt as policy adviser of investment and governance.

The Pensions Regulator should tackle defined contribution schemes now progress has been made on final salary schemes, a National Audit Office report says.

Revised regulations governing how trustees should deal with scheme disputes have been put out for consultation by the department for work and pensions.

Changes in the reporting of local government pension fund accounts will help improve scheme governance, Hymans Robertson believes.

US - Participation in employment-based pension plans among full-time workers aged 21-64 continued to decline in 2006, despite a stable labour market.