News

BAA switches to liability led pension model; As pension rules bite, pressure mounts on final salary schemes; Tough pension realities make Myners ‘look less relevant; Strain of protecting pensions increases

UK - New joint venture PensionsRisk is looking to buy-out firms such as Paternoster to underwrite its insurance-based approach to managing DB pensions risk as it targets schemes with liabilities upwards of £100m.

CANADA - The National Union of Public and General Employees (NUPGE) has branded the Canadian Federation of Independent Business (CFIB) criticism of public pensions as a "mean-spirited and economically illiterate attack on the public sector".

PENSIONSRISK has launched a product to provide firms with a insurance based alternative to bulk annuity buy-out at a cost of up to 90pc less.

SCHRODERS has hired New Star Asset Management's Ian Lance to boost its UK equities team.

UK - The Accounting Standards Board (ASB) has published disclosure guidelines aimed at promoting greater transparency in financial reporting for defined benefit (DB) pension schemes.

UK - Railways Pension Trustee Company CEO Chris Hitchen has been named the new NAPF chairman, replacing Robin Ellison who will step down in May.

AUSTRALIA - INVESCO's parent company AMVESCAP has appointed Mark Armour as senior managing director and head of its worldwide institutional business.

AQUILA has released the latest version of its pensions administration solution in a bid to offer boost scheme flexibility and efficiency.

THE NATIONAL Association of Pension Funds has announced that Chris Hitchen will take over from Robin Ellison as chairman in May.