News

Poor timekeeping is costing businesses £66m a year, new research shows.

PRESSURE is mounting on ministers to increase compensation to scheme wind-up victims after the High Court ruled the government was guilty of maladministration.

THE INVESTMENT Management Association has urged the government to launch a broader debate on the issues regarding annuities and the provision of income in retirement in this year's Budget.

BELGIUM - Belgian pension fund returns fell by 6.2% to 8.76% over 2006, compared to their 2005 performance of 14.96%.

NORWAY - The 28 external managers for the Norwegian Government Pension Fund equity portfolio lost NOK6.1bn (€757m) over 2006, missing their benchmarks for the first time since the fund's inception.

THE DEFICIT in the NHS Pension scheme gas risen by £61.2bn in just two years, the Conservative Party reveals.

CANADA - Assets under management by Canadian pension funds topped C$1trn for the first time in 2006 mostly due to the recent strong performance of domestic and global equity markets.

TESCO has raised £500m through the issue of a 50-year corporate bond - an issue that was more than four times oversubscribed.

GLOBAL - Winners of the 2007 Global Pensions Awards were announced at a black tie ceremony at the Grosvenor House Hotel in London.

ASHMORE Group has announced its first set of interim results since listing on the London Stock Exchange in October last year - unveiling a pre-tax profit of £60.2m.