News

The conclusion of HM Revenue & Customs' consultation on tax-relief for asset-backed contributions will bring welcome clarity and make such arrangements accessible for smaller schemes, says PwC.

The e-petition calling for pension indexation to be returned to the Retail Prices Index has attracted almost 12,000 signatures - up from about 400 nine days ago.

The UK's index of 100 leading shares fell 2.76% to below 5,000 this morning, as global markets showed no signs of shaking off fears the West is heading back into recession.

The FTSE has suffered sharp falls in afternoon trading with banking stocks leading the plunge into the red amid renewed euro debt concerns.

UK/US - Mercer has promoted Michael Dempsey to head up its investment management business for Europe, Middle East and Africa, replacing Tom Murphy who will take on a similar role in the US.

UK - Northumberland County Council Pension Fund has appointed Northern Trust to provide it with transition management services.

US - Fitch Ratings has downgraded New Jersey's debt rating in large part because of its swelling pension funding needs.

ASIA - HSBC Securities Services (HSS) has launched a fund administration infrastructure and operating model in Asia to help pension funds and other clients increase transparency in light of volatile markets and regulatory scrutiny.

Firms planning to freeze their defined benefit schemes should do so before 5 April next year due to a forthcoming change in guaranteed minimum pension rules, a consultant says.

How investors can avoid another 'lost decade'; Cash for pensions deals warning; Millions tempted into dropping final salary pensions for cash