News

LOTHIAN Pension Fund pensions administration manager Clare Scott has been appointed as the fund's new investment officer.

ITALY - The underdeveloped pension fund industry in Italy is impeding growth of the financial system and preventing the restructure of a productive economy, said Bank of Italy governor Mario Draghi.

CREDIT Suisse Asset Management's diversified growth fund has attracted £100m of pension fund money during its first six months.

US - CalSTRS has reached a US$105m settlement with AOL Time Warner, claiming AOL's artificially inflated stock price cost the fund $135m.

US - San Diego's mayor and city attorney have called on the city council to eliminate the "costly" Deferred Retirement Option Plan (DROP), which has already cost the city as much as US$400m.

SCHRODERS is exploring the potential of defined contribution lifestyle funds that react to market conditions rather than automatically switch assets at a fixed point.

"ENORMOUS" unexplained variations in actuarial valuations are leading to swings in liabilities of as much as 20pc, research by PricewaterhouseCoopers reveals.

BUSINESSES operating in multi-employer schemes are leaving themselves open to unexpected costs by failing to monitor membership, Punter Southall warns.

AUSTRALIA - Revenue minister and assistant treasurer Peter Dutton has introduced amendments to the Superannuation Legislation Amendment (Simplification) Bill 2007 in parliament.

During the last decade we have seen an unprecedented amount of pension legislation, particularly invo...