News

Including: UK - Hard life for 21st Century trustees; AUSTRALIA - Illiquid assets take risk appreciation; US - NYSTRS head to retire

GLOBAL - Emerging markets' ability to retain profitability through this summer's credit crunch may be partly due to their improved governance, according to industry commentators.

DEFINED benefit schemes have an aggregate surplus of £44bn, latest figures from the Pension Protection Fund reveal.

UK - A majority of people within the pensions industry believe Gordon Brown will proceed with the Turner Commission's proposals, according to a new poll.

UK - Some 88% of UK savers expect to retire before they reach 65, revealing worrying demographic changes that could leave retirees with inadequate assets to fund their twilight years, claims a survey.

RUSSIA - Gas producer Gazprom said the revised accounting treatment of the non governmental pension fund, NPF Gazfund, had a significant impact on the group's financial information for the three months ended 31 March 2007.

UK - Research from Lincoln Retirement Income has revealed that UK property owners place more faith in their homes as a source of retirement income, than their pension plans.

The government is set to clamp down on firms abusing tax relief rules for large employer pension contributions by routing them through a new company.

UK - Hermes is set to acquire a 4% stake in Southern Water as part of a consortium including seven Australian superannuation funds which beat off competition from groups led by Goldman Sachs and Morgan Stanley.

THE CITIZENS Advice Bureau is set to close its final salary scheme after its deficit doubled in three years.