News

CANADA - The existence of underfunded defined benefit (DB) schemes in Canada is due to defects in the pensions model, according to a C.D. Howe Institute report.

Retirees welcome the choice of flexible US-style annuities when considering the most appropriate retirement income plan, financial advisers have said.

UK - The Parliamentary Contributory Pension Fund (PCPF) is looking for an investment adviser for its trustees.

WORKERS aged 40 today who leave work in their 60s will be seen as taking "early retirement", pensions minister John Hutton has told an influential think-tank.

Chief Financial Ombudsman, Walter Merricks has been awarded a CBE in the Queen's Birthday Honours.

UK - Transport for London (TFL) has called the ballot for strike action over the TFL pension fund "extremely premature".

UK - The Pensions Regulator (TPR) has been commended for the announcement that it will issue its first Financial Support Direction to the Sea Containers Ltd (SCL).

NETHERLANDS - JPMorgan Worldwide Securities Services (WSS) has set its sights on the Netherlands pensions market by expanding its presence in Amsterdam.

UK - Barclays Global Investors (BGI) was dropped from two mandates by the Clwyd Pension Fund.

Sea Containers faces having to pay £91m pension fund shortfall; Big hedge funds look at a code of practice; God's work is an expensive enterprise; Forget the dream of retiring early if you are 40