News

NETHERLANDS - PGGM has pulled its investment out of PetroChina due to human rights violations by the company.

US - Women over 50 were much less likely than men to receive an annuity or pension income in 2006, but improvements are being made, according to research from the Employee Benefit Research Institute (EBRI).

Aon Consulting has launched a specialist trustee service to provide dedicated support for covenant assessments of sponsoring employers.

US - BlackRock and Merrill Lynch have released Q4 and full year financial results, in which Merrill Lynch posted a full year net loss of US$7.8bn.

CANADA - Credit crunch caused Canadian pension plans to suffer loses in the final two quarters of 2007, according to RBC Dexia Investor Services.

Pension Protection Fund proposals to raise the cut-off point for schemes paying the risk-based levy are unfair and penalise better-funded schemes, a consultant claims.

Kodak workers sue Morgan for $500m; Goodrich workers vote to strike; Resolution in £3bn drive; Aegon property investors face long wait for cash; Women work after pension age; Panic-selling shuts fund

UK - Trustees of pension schemes whose company sponsors have ceased trading should now be able to claim VAT on incurred expenses following a court ruling.

New calls for an independent pensions commission to ensure consensus around long-term goals have been made by the Pensions Policy Institute.

UK - Northamptonshire County Council Pension Fund is to split its investment and actuarial consulting mandate, currently held by Mercer.