News

Insurers attack new pensions scheme; PPF opts for managers; Buy-outs lay legal pitfalls for trustees; Call to overhaul pension relations

UK - Ed Balls, economics secretary to the treasury, has been accused of taking advantage of pension funds after he promised more long-dated gilts to the UK pensions industry.

Anger mounts over timetable of pensions review; Pension funds urged to consider more class actions; Government to fight court pensions ruling; Don't undermine workplace pensions, government warned; Balls says gilts "skew" to continue; Atkins shuts scheme...

SMOKERS quitting the habit will cost defined benefit pension schemes £20bn, research by PricewaterhouseCoopers reveals.

US - Oklahoma's Teachers' Retirement Fund (TRS) is causing the state its biggest fiscal issue to date, according to commentators.

GOVERNMENT will continue to skew bond issuance towards long-dated conventional and index-linked bonds, economic secretary Ed Balls revealed.

TRUSTEES must do more to protect members who are offered cash inducements to leave schemes, The Pensions Advisory Service says.

US - The Kansas senate yesterday approved a bill which would require the US$12bn Kansas Public Employees Retirement System (KPERS) to divest from "companies with business operations in Sudan".

DEFINED contribution schemes are increasingly using ethical funds as default options, F&C Asset Management claims.

FRANCE - French think tank, Le Cercle des Epargnants and official survey group CSA have reported that 64% of the population are worried about funding their retirement.