News

Millions of workers could pay little or no income tax if employers allowed them to make full use of A-Day flexibility, JPMorgan Invest claims.

SWITZERLAND - Credit Suisse's asset management division said its income had fallen 50% to CHF 508m (€312.5m) in 2006 due to lower returns and higher operating expenses.

SCHEME use of inflation-linked derivatives doubled in 2006, Watson Wyatt Investment Consulting says.

ABI study links bad practice to lagging share price; CBI defends private equity against unions; UK tops European venture capital deals

UK - The UK inflation-linked swaps market has more than doubled in 2006 to reach around £20bn, according to Watson Wyatt Investment Consulting.

AUSTRALIA - Philippa Smith has resigned resigned as CEO of the Association of Superannuation Funds of Australia (ASFA) after nine years in the post "to seek new challenges".

Hopes for a political consensus on pension reform could be derailed unless ministers lower the cap on personal account contributions, the Conservatives warn.

UK - Powys County Council Superannuation Fund has tendered a £13m European property mandate as part of the fund's ongoing restructure following years of low funding and poor returns.

US - Delta Airlines saw its 2006 Q4 loss widen to $2bn after it spent US$2.2bn on a claim to terminate its defined benefit pension plan.

The quest to find this year's Pensions Personality of the Year is now entering its second phase.