Pension News

Pension News

Fury over teachers' pension changes

8 September, 2010

The Press Association: Teachers could lose a "staggering" £74,000 each because of the Government's controversial decision to switch the method of calculating the rate of inflation on which pensions are based, a...

Philips sells $451M NXP stake to own pension fund

8 September, 2010

Bloomberg Businessweek: Royal Philips Electronics NV said Tuesday it will sell its remaining stake in NXP Semiconductors NV to Philips' own British pension fund for euro350 million ($451 million).

Royal Mail's Pension Plan Narrows Deficit With Derivatives

8 September, 2010

The Wall Street Journal: A sophisticated derivatives strategy helped the £26 billion ($40 billion) pension fund for the U.K.'s Royal Mail Group earn 29% on its money last year, reducing the fund's deficit and potentially...

Protests In France Over Pensions Age Change

8 September, 2010

Sky News: Up to 2.5 million French workers have taken to the streets in protest over proposed new pension reforms.

Pensioners raid emergency savings to make ends meet

8 September, 2010

IFA Online: Around two-thirds of over-55s are concerned the would not be able to raise the necessary cash if faced with an unexpected payout of £500 or more, according to the Aviva Real Retirement Report.

BBC management to offer concessions over pensions row

8 September, 2010

The Guardian: Mark Thompson is expected to contact staff in the next couple of days, though details of the new package remain under wraps

Traditional retirement 'impossible'

8 September, 2010

The Press Association: Nearly three-quarters of Britons think a traditional retirement will no longer be possible in the future, a survey has indicated.

Top pension funds face volatile recovery

8 September, 2010

Citywire: A new report by Towers Watson has revealed the world’s largest pension funds saw their assets increase by over 8% in 2009, but it warns they are moving into a period of increased volatility.

PwC to axe final salary pensions

8 September, 2010

Financial Times: The UK arm of PwC plans to close its two defined benefit pension schemes to existing members from April in a move that will affect about 1,100 workers.

DS Smith plans change in pension policy

8 September, 2010

Financial Times: DS Smith, the packaging supplier and office products wholesaler, pointed to continued recovery in demand during the first quarter and good progress in the integration of Otor, the French corrugated...

NAPF hires HM Treasury’s head of pensions

7 September, 2010

Professional Pensions: The National Association of Pension Funds has appointed current head of pensions at HM Treasury as its new director of policy.

PwC will close DB schemes to future accrual

7 September, 2010

Professional Pensions: PricewaterhouseCoopers is to close its two defined benefit pension schemes to future accrual from next April.

France faces general strike over retirement reforms

7 September, 2010

BBC News: Train services and flight traffic are expected to be severely disrupted France faces serious disruption as a nationwide strike begins to fight proposals to raise the retirement age.

Can we expect to live to 77, 89 or 100?

7 September, 2010

BBC News: One of the reasons why pensions have been described - by Nick Clegg, among others - as "unaffordable" is because people are living longer and placing an extra burden on the pension pot. So what is our...

Social Housing Pension Scheme to launch defined contribution arrangement

7 September, 2010

Employee Benefits: A defined contribution (DC) scheme will be introduced to all members of the Social Housing Pension Scheme on 1 October 2010.

PPF beefs up longevity data

6 September, 2010

FT.Com: The Pension Protection Fund, which looks after the retirement promises of companies that go bust, has signed up to join a service that provides detailed data on longevity and mortality rates among pensioners.

Half of UK workers never review saving plans

6 September, 2010

Engaged Investor: Almost half of British workers have never reviewed their pension saving arrangements, while only a fifth have done so in the past year, according to research by Baring Asset Management.

Unhealthy Britons seeking to maximise pension benefits

6 September, 2010

Press and Journal: The sale of enhanced annuities soared by 41% during the first half of the year as increasing numbers of people looked to maximise their pension income.

BCC chief fears new pension rules could cost jobs

6 September, 2010

The Telegraph: The Government must radically simplify the latest corporate pensions rules or risk damaging job creation in the UK, the British Chambers of Commerce (BCC) warned.

LDI focus pays off for ICI Pension Fund

6 September, 2010

FT.Com: A strong focus on liability driven investment has helped the £7.4bn (€8.9bn, $11.4bn) ICI Pension Fund earn a return of 5.5 per cent a year over the past 10 years, compared with 3.7 per cent for the average UK defined benefit pension...

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