News

Trinity reduces pension deficit; State pension proposal rejected; Resolution Life's founder to new £145m from sale; Barclays sues Bear Stearns over collapsed hedge funds

XEROX FUNDXTRA and Smiths TI Group Pension Scheme have won awards from the Pensions Research Accountants Group for the quality of their schemes' summary reports.

THE BANK of New York Mellon has completed its acquisition of ABN Amro Mellon Global Securities Services.

CANADA - The Canadian Pension Plan (CPP) Investment Board has defended its decision to invest in asset backed commercial paper (ABCP) and cited market confusion as an opportunity to make money.

ROLLS-ROYCE has made a £500m lump sum payment across its three main UK defined benefit schemes as part of a strategy to reduce its overall deficit.

Morley and Aberdeen lost out in a portfolio restructure announced by union UNISON's £276.3m pension fund yesterday.

AUSTRALIA - Homeowners have been increasingly drawing on superannuation savings to get themselves out of a mortgage crisis, while non-bank lenders are disproportionately foreclosing on home loans, according to a new report.

UK - Analysis of the defined benefit (DB) pension landscape has shown the number of schemes in deficit, on a s179 basis, has fallen by 10% in the year up until 30 March 2007.

EUROPE - European companies with offshore pension funds could be breaking the law, according to Deloitte Belgium.

UK - Trinity Mirror has announced a £175m (US$350m) share buy-back scheme which will return capital to shareholders as part of the group's large scale reorganisation of its business.