News

US - Public sector pension funds face a US$731bn funding gap over the next 30 years as the cost of pension promises, health care obligations and other related benefits have not been met by sufficient levels of saving at state level.

THE PENSIONS REGULATOR and the Pension Protection Fund have released an up-to-date edition of its Purple Book.

US - The asset allocation of the US$250bn California Public Employees' Retirement System (CalPERS) has been revamped.

EUROCLEAR UK & Ireland plans to implement record-breaking fee reductions of £11.8m in 2008.

WATSON WYATT has appointed Michael Chatterton as a senior consultant in its benefits practice.

TURBULENT credit market conditions mean corporate reporting and governance risks are higher than they have been for "some years", the Financial Reporting Council warns.

NETHERLANDS - The ABP pension fund has expressed a desire to enter into a partnership with one or more of Europe's large pension funds to create a flagship body to pursue environmental, social and governance (ESG) investments.

Government ends battle over pensions; Norwich Union given £1.26m fine after fraudsters cashed in £3.3m in life policies; ECB to lend below market rates in credit squeeze fight; China eyes UK funds

TOTAL returns in the commercial property sector on the IPD UK monthly index have suffered their worst monthly total return on record.

PENSIONS secretary Peter Hain has announced a new package of help for up to 140,000 people who lost savings when their employer-sponsored pension schemes collapsed.