News

JAPAN - The implementation of new accounting rules that would have forced companies to book pension fund shortfalls as liabilities on their balance sheets is to be postponed, according to reports.

Legal & General Investment Management has launched a pooled fund platform that offers pension schemes a flexible version of liability-driven investment.

JAPAN - Credit rating agency Moody's has downgraded Japan's sovereign debt rating by one notch, saying weak political leadership has hampered growth.

The Department for Work and Pensions has confirmed when employers must pay pension contributions for workers on maternity leave after confusion over the law.

SWITZERLAND - UBS is slashing 3,500 jobs as part of its cost cutting scheme with almost half coming from its investment banking business but only 10% from its global asset management unit.

US - Deven Sharma, the man who oversaw the downgrade of the US' credit rating earlier this month, is stepping down as president of Standard & Poor's.

UK - The Society of Pension Consultants has urged government to pass legislation defining money purchase benefits immediately, or risk schemes not operating correctly.

US - The Ontario Teachers' Pension Plan and Jana Partners have called for McGraw-Hill, owner of ratings agency Standard & Poor's, to be carved up into four units to keep S&P from infecting the rest of the business.

ITV agrees pensions ‘longevity swap' deal; ITV ripe for sale after £1.7bn pensions deal; ITV pays Credit Suisse to take on the risk on its pension scheme; Putting a cap on the cost of pensions both present and future; Expat pensioner exodus: would the...

G4S has closed its three UK defined benefit schemes to future accrual to limit the future growth of liabilities.