News

Financial services giant State Street is freezing its final salary pension scheme and switching all workers into an "improved" 401(k) plan instead.

Members of defined contribution schemes must become more aware of their pensions to ensure they make sufficient provision for retirement, The Pensions Regulator warns.

Trustees should use mortality data from comparable schemes to assess their own longevity costs, Punter Southall says.

The Pension Protection Fund is considering introducing a different levy premium on schemes to reflect normal and "catastrophe" risk.

The trial of a group of businessmen accused of stealing around $140m (£70m) from pension fund surpluses is due to start in South Africa.

IRELAND - Poor third quarter returns have been dismissed as a blip by a senior Irish industry figure. Figures by Rubicon Investment Consulting showed an overall negative return of -3.3% over the ten Irish managed funds in Q3 of 2007.

This year's Pension Scheme of the Year Awards will be presented at a gala dinner at London's Park Lane Hilton on Monday.

Addaction has joined The Pensions Trust's flexible retirement scheme.

Schroders' diversified growth fund has attracted more than £1bn of assets in the 16 months since launch.

Lyxor Asset Management has teamed up with the London and Tokyo stock exchanges to launch an exchange-traded fund tracking the Japanese TOPIX Index.