News

US - The US Pension Benefit Guaranty Corporation (PBGC), which acts as a safeguard for underfunded and failing pension funds, has released its strategic plan for the fiscal period 2008-11.

GLOBAL - Most pension funds are failing to actively engage with ‘Generation Y', the generation now in their twenties, found the results of September's Global Pensions 100 Panel.

AUSTRALIA - Superannuation savings recently recorded the largest quarterly increase since statistics were first collected, according to the Association of Superannuation Funds of Australia (ASFA).

NETHERLANDS - Peter Borgdorff will leave the association of industry wide pension funds (Vereniging van Bedrijfstakpensioenfondsen VB) to join PGGM as executive office director.

UK - Barclays Global Investors (BGI) has been awarded a commodities mandate worth around £25m by the Ernst & Young Retirement Benefit Plan, which is in the final stage of its investment strategy shake up.

NETHERLANDS -PGGM has entered into a risk-sharing agreement with Citigroup (Citi) on a €2.5bn portfolio of emerging market credit exposures.

US - The Sheet Metal Workers' National Pension Fund has filed a law suit against Beazer Homes, claiming the company breached its fiduciary duties by wasting assets and damaging its reputation.

GLOBAL - The new chairman of the Enhanced Analytics Initiative (EAI), Peter Scales, has cited asset managers as its next recruitment target.

UK - Avon pension fund could become lead plaintiff in a US class action lawsuit against GlaxoSmithKline.

US - The Pennsylvania State Empoyees' Retirement System (SERS) delivered an investment return of 11.4% in the first six months of 2007, and 22.2% over the 12 month period ended 30 June.