News

PRUDENTIAL is set to buy Equitable Life's £1.8bn portfolio of in-force with-profits annuities.

US - The pension fund-backed proposal that would give large investors in Hewlett Packard more say over who sat on the board was voted down by shareholders.

THE GOVERNMENT has launched an appeal against last month's Pensions Action Group judicial review victory.

Mongolia - Pension fund money in the country will dry up in 25-30 years, according to research by the National University of Mongolia.

THE TRANSPORT and General Workers' Union has released its response to the Financial Services Authority discussion paper on private equity.

UK - Former US vice president Al Gore has urged the UK pensions industry to abandon short term investment horizons and review the way it incentives managers of firms it hold investments in.

CYPRUS - Pension funds must modernise management practices to provide healthy returns in the future, KPMG and Hewitt have warned.

UK - The NAPF have come out in support of the government's white paper, however it noted provision should be made for those without a decent occupational pension scheme.

UK - Pensions regulator chairman David Norgrove has ruled out providing guidance on the issue of mortality assumptions.

THE NETHERLANDS - Aegon has reached an agreement to acquire OPTAS N V, the Rotterdam-based life insurer for €1.3bn.