News

Watson Wyatt retained

The Conservatives will set up a pensions lifeboat fund to compensate scheme wind-up victims within three months of winning the next election, the party says.

Only 14pc of trustees are "completely confident" with their schemes' current actuarial assumptions, research from buyout specialist Paternoster reveals.

UK - The Office of Manpower Economics has issued a tender for a pensions consultant.

UK - Watson Wyatt has switched its defined benefit (DB) scheme from final salary, to career average, and raised the retirement age from 60 to 65.

PENSIONS minister Mike O'Brien has branded Conservatives plans to re-float the pension lifeboat fund as "fantasy financing".

US - UPS Group and the International Brotherhood of Teamsters union have reached a tentative agreement regarding the future of the company's pension scheme.

SWEDEN - AP7's Japanese and AsiaPacific equity mandates, each worth SEK3.7bn (US$570m), have been divided up between Nomura and Société Générale.

IRELAND - The number of firms offering defined benefit (DB) pension schemes has significantly decreased from 67% to 37%, according to the Irish Association of Pension Funds (IAPF).

PENROSE Financial has released a free media guide for pension scheme trustees on how to effectively manage press relations.