News

AUSTRALIA - The Labor party has criticised prime minister John Howard's government over increased taxes on some military pensions.

PRE-TAX profits at pensions consultant Mattioli Woods soared 45.2pc for the year ending May 31.

INCLUDING: UK - Rank buy out denial; MEXICO - Teachers protest; JAPAN - Y113m taken from public funds

UK - Ken Livingstone, the mayor of London, has hit back at the city's transport workers, saying a strike over employment and pensions should not proceed as their concerns have been met.

CANADA/NEW ZEALAND - The Canadian Pension Plan (CPP) has signalled its intention to submit a proposal to acquire a minority stake in Auckland International Airport Limited (AIAL).

UK - Pooled fund of hedge funds made gains for the third consecutive quarter - but performed less well over the longer term when compared with UK equity pooled funds and property pooled portfolios, according to new statistics.

UK - A typical member in a defined contribution (DC) pension scheme could be missing out on as much as £3,600 a year, suggests new analysis.

THE Association of Consulting Actuaries is continuing to push for changes to current legislation which would enable risk-sharing schemes to flourish.

LATIN AMERICA - Hewitt Associates has appointed Thierry de Beyssac as the new head of its Latin American consulting business.

DEFINED contribution scheme members could be losing up to £3600 a year by investing in default fund options, latest research by Fidelity International claims.