News

US - The California Public Employees' Retirement System (CalPERS) has announced a $100m investment in global emerging markets, through Washington DC based firm EMAlternatives.

BIRMINGHAM City Council is set to take responsibility for the National Exhibition Centre Pension Fund's deficit.

The government will bow to industry pressure and set the contribution cap on personal accounts lower than the £5000 limit proposed, industry sources told PP.

Insurers have criticised plans to scrap the pensions ombudsman's office following Paul Thornton's institutional review for the department for work and pensions.

The government has dropped plans in the House of Lords that would have made pension savings up to £16,000 exempt for means-testing purposes.

GERMANY - Watson Wyatt Worldwide has bought 20% of German insurance consultancy, Institut für Finanz und Aktuarwissenschaften (ifa), for an undisclosed amount.

Ministers look as though they are going to bow to industry pressure over the level of contributions for the proposed personal accounts.

THE GOVERNMENT Actuary's Department has been forced to issue guidance and interim measures after withdrawing all "passports" for the Local Government Pension Scheme.

UK- The National Association of pension fund has thrown its weight behind government proposals to establish personal accounts as a trust-based occupational pension scheme.

FIDELITY International has launched a clutch of online tools to help members of defined contribution pension schemes plan more effectively for their retirement.