News

CANADA - Actuaries have called on the government to implement a 10-point plan to help millions of Canadians save for an independent retirement and reverse the decline in defined benefit (DB) plans.

The Pensions Regulator's proposed principles-based clearance guidance needs more work to ensure it is adopted smoothly, a consultant claims.

Media group Emap is considering the sale of its pension fund to a third party, sources suggest.

The government is rethinking proposed changes to section 75 buyout debts amid fears they would have a "catastrophic" effect on firms leaving a multi-employer scheme.

The scheme-specific funding regime is forcing trustees to think long term and consider what happens after they become fully funded, Hewitt Associates claims.

UK - The British Telecom, Friends Provident and Stagecoach Group pension schemes have come top in the UK Social Investment Forum (UKSIF) Sustainable Pensions Report.

More than 3000 schemes have not yet submitted their first valuation to the Pension Protection Fund and could pay "substantially" higher levies, a consultant warns.

Government claims that everyone should save for retirement irrespective of the effect on means-tested benefits is "plain crazy", Scottish Life claims.

US - The funding ratios of US pension funds fell by 4% to approximately 110% during the third quarter of 2007, according to UBS Global Asset Management.

More than 90pc of schemes believe their governance related workload will increase over the next few years, research shows.