News

GOOD generic advice is essential if personal accounts are to succeed, consumer magazine Which? says.

CANADA - Alberta Investment Management is to be separated from the Department of Finance to manage public monies including the province's C$26.95bn of pension fund assets as a stand-alone entity.

US - Some US$133m in unclaimed pension benefits for over 30,000 people owed money from terminated defined benefit (DB) pension plans is being held by the Pension Benefit Guaranty Corporation (PBGC).

Guarantees from scheme sponsor parents used as contingent assets could be worthless unless they are monitored regularly by trustees, lawyers warn.

Trustees are increasingly being bombarded with responsibilities and must share their experiences if they wish to succeed, delegates to the PMI's spring conference heard.

THE TRUSTEES of J Sainsbury Pension Schemes have no power to force a private equity bidder to put more cash into the fund, a consultant claims.

BUSINESS advisory firm Deloitte has poached Andy Green from Mercer Investment Consulting to lead its pension investment consulting team.

RETIREMENT income could be increased if financial advisers offered a more sophisticated combination of annuities, drawdown products and phased retirement plans, Fidelity International claims.

PACKAGING manufacturer Nampak has replaced its trust-based defined contribution scheme with a group stakeholder pension plan because concerns over the growing number of regulations facing trustees.

HIGH street retailer Woolworths believes its final salary pension scheme is fully funded.