Global Pensions | 02 Sep 2010
IRELAND - Falling French and German bond yields coupled with declining equity markets in August have left Irish pension funds with the renewed prospect of funding difficulties, Hewitt Associates says.
US - The Financial Accounting Standards Board (FASB) has updated guidance over increasing transparency in the financial reporting of companies with multiemployer pensions.
US – Hewitt Associates has completed its previously announced acquisition of US consulting firm Ennis Knupp.
US – Pension plans of S&P1500 companies are shouldering deficits of a combined $506bn, the largest recorded deficit in their history, according to data by Mercer.
AUSTRALIA - Superannuation funds will have to pay closer attention to their decision-making process and board composition in the wake of the Cooper Review recommendations, Russell Investments warns.
JAPAN - Japanese pension funds are starting to invest in toll roads, ports and pipelines for the first time, seeking higher returns to meet the retirement needs of the world’s fastest-aging population.
UK - Gordon Brown has been accused of attempting to blackmail Tony Blair to drop Adair Turner’s revolutionary pension reform proposals.
UK - Government should look to use public-private partnerships to address taxpayer exposure to defined benefit longevity risk, Swiss Re says.
EUROPE - Pension funds should be able to decide for themselves whether the benefits of shareholder engagement outweigh the costs involved, the European Federation for Retirement Provision (EFRP) believes.
US – David Cooper has been named chief investment officer of Indiana’s two largest pension plans, a further step in merging the operations of two schemes with $22bn in combined assets.
NETHERLANDS - Northern Trust has appointed Wim van Ooijen to head up its Netherlands business.
GLOBAL - Multinational companies are looking at innovative ways to redesign defined benefit schemes but will cut contributions by 10% in the process, research by Mercer suggests.
US - California lawmakers approved two bills to prevent government employees from increasing the amount of their pensions by padding their pay before retirement.
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Investors losing out from high FX fees - Updated
Funds sue over mortgage pass-through certificates
Falling markets lead to summer of discontent
FASB updates multiemployer transparency guidance
Hewitt completes EnnisKnupp acquisition