News

ITALY - Consultants have slammed "watered down" pension reforms approved as part of the 2008 Budget, claiming they will do little to resolve the huge financial burden and inequities of the system.

FTSE350 pension schemes have seen their deficits drop to £13bn from £50bn in December 2006 with an aggregate funding level of 97pc, research by Mercer shows.

Tories call on Hain to explain think-tank; Private equity ‘has a year' to prove itself on disclosure; No end in sight for commodities rush; Absolute return fund struggling but surviving; Pension schemes return to surplus; Pensions "guru" launches co-op;...

US - Puerto Rico's Employees Retirement System (ERS) has issued $4.3bn in senior pension funding bonds in a bid to significantly reduce the unfunded liability of the system.

UK - RAILPEN and the Universities Superannuation Scheme (USS) have united to examine how businesses have adapted to existing climate change and the resulting implications to investors.

INCLUDING: UK - Sweeney leaves Mercer to join Hewitt; AUSTRALIA - RBC Dexia custodian for AXA's superannuation platform; UK - Asset manager turnover rises; UK - Employee benefits failing

GLOBAL - Watson Wyatt said it remained cautious about quantitative methods in a recent paper on the investment strategy.

Hain fights to save career; Goldman eyes Rock bond plan; L&G life and pension sales rise

LEGAL & GENERAL has reported an 8pc increase in UK life and pensions business to £1.16bn.

THE £355M Northern Rock Pension scheme has transferred its equity investments into bonds in a bid to reduce investment risk.