News

CANADA - The government has enacted the Special Economic Measures Act on Burma, which has banned all Canadian people and financial institutions from investing in the region, also known as Myanmar.

NEW ZEALAND - The board of Auckland International Airport (AIA) has urged shareholders to reject a partial takeover offer from the Canadian Pension Plan Investment Board (CPIBB).

UK - Pension Corporation has learned from the mistakes it made in the takeover UK telecoms firm telent and will bring trustees on side in future deals, a senior executive has told Global Pensions.

SMALL bespoke self-invested personal pension providers are at the greatest risk of going out of business as a result of market consolidation, JLT Benefit Solutions says.

UK - A rescue package has finally been announced for up to 140,000 people who lost savings when their employer-sponsored pension schemes collapsed.

UK - The suggestion by Goldman Sachs Asset Management (GSAM) of using a liability driven investment (LDI) strategy as a way to control the Pension Protection Fund (PPF) levy has met with mixed responses.

SOUTH KOREA - The National Pension Service (NPS) has confirmed it is to invest almost US$22bn over the next ten years as it seeks to buy into energy and mineral resources.

WEIR GROUP has agreed to sell off part of its £550m pension scheme to Legal & General.

INCLUDING: UK - Funds not measuring performance; UK - Crum joins Hewitt; UK - ACE launches Elite

THE BOARD for Actuarial Standards is set to hold meetings in London and Edinburgh to discuss its proposals for a new framework for technical actuarial standards.