News

ITALY - An Italian pension scheme covering pilots and airline technicians has launched a search for a financial institution to offer life annuities products for its members.

NETHERLANDS - Joep Schouten, chairman of the board of directors at Cordares, has resigned to " start a new phase" in his life.

UK - In an attempt to kick start the defined benefit (DB) buyout market Paternoster has urged trustee boards to buy now while rising bond yields force prices down.

INDIA - The Pension Fund Regulatory and Development Authority (PFRDA) has sought applications from fund managers for its New Pension System (NPS).

NEW scheme funding rules and how employers should negotiate with trustees are discussed in the latest installment of the company tool-kit from Punter Southall.

UNITED Norwest Co-operatives Employees' Pension Fund has appointed Baring Asset Management to manage a £23m diversified growth mandate.

CHILE - The domestic stock market tumbled by over 3% yesterday as it was announced pension funds' international investment limits may be raised from 30% to 45% as early as July.

UK - Baring Asset Management has been awarded a £23m diversified growth mandate by United Norwest Co-operatives Employees' Pension Fund.

US - A new study has reportedly predicted up to 75% of US corporate pension plans could be frozen or terminated within the next five years.

BELGIUM - The Belgian municipality of Brecht has tendered a €2.4m (£1.8m) mandate for a new pension fund.