News

Section 75 buyout debt unfairly hampers multi-employer schemes and should be scrapped, law firm Wragge & Co pension team director Jane Kola says.

Final salary schemes would be more employer-friendly if rules on restricting access to surplus funds were relaxed, delegates heard.

Amro Asset Management head of UK institutional sales and global head of consultant relationships Shamus Young has died. He was 39.

Bulk buyout specialist Paternoster has rejected a survey which claims the market is "stagnant" and has failed to live up to the hype.

CANADA - The Canadian Pension Plan (CPP) Investment Board has committed US$125m to a joint venture sponsored by a real estate private equity firm.

The Society of Pensions Consul-tants has welcomed government assurances it recognises the importance of early communication before introducing personal accounts.

TUC seeks ‘champions'

A new firm claims it can slash the cost of removing scheme liabilities by up to 20pc with a non-insurance based alternative to buyouts.

Operating profits at Thomsons Online Benefits soared by 56pc in 2006, the latest audited accounts revealed. Group turnover rose 54pc to £5.85m in the year to December 31, while operating profits reached £682,490.

Sales of enhanced annuity policies more than doubled in the year to the end of June, figures from financial adviser Just Retirement show.