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Falling markets lead to summer of discontent
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.
FASB updates multiemployer transparency guidance
US - The Financial Accounting Standards Board (FASB) has updated guidance over increasing transparency in the financial reporting of companies with multiemployer pensions.
Hewitt completes EnnisKnupp acquisition
US – Hewitt Associates has completed its previously announced acquisition of US consulting firm Ennis Knupp.
OTHER NEWS ARTICLES
Corporate pension deficits hit all-time high
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.
Supers must step up governance post-Cooper Review
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 pensions seek roads, ports assets as population ages
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.
Blair: ‘Venomous’ Brown attempted blackmail to shelve Turner reforms
UK - Gordon Brown has been accused of attempting to blackmail Tony Blair to drop Adair Turner’s revolutionary pension reform proposals.
Government urged to look to private sector to address longevity risk
UK - Government should look to use public-private partnerships to address taxpayer exposure to defined benefit longevity risk, Swiss Re says.
Shareholder engagement must not be compulsory - EFRP
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.
Indiana schemes name first joint CIO
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.
Northern Trust appoins Van Ooijen as Netherlands head
NETHERLANDS - Northern Trust has appointed Wim van Ooijen to head up its Netherlands business.
DB innovation sees employer contributions cut
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.
California lawmakers send Schwarzenegger pension-padding curb
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