News

UK - Secretary of state for Work and Pensions, James Purnell has confirmed retirees getting payments via the Financial Assistance Scheme (FAS) would not have to pay higher rate tax.

Treasury consults on updating Myners principles; Pension funds sell more equities; Changes empower pension trustees

THE Pensions Management Institute has restructured its management team in a bid to improve efficiency.

IRELAND - The Irish Association of Pension Funds (IAPF) has launched new investment guidelines for turbulent markets.

US / EUROPE - The $155bn New York Common Retirement Fund (NYCRF) has acquired a majority stake in Public Storage's Shurguard Europe self-storage business.

US - The Chancery Court of Delaware has announced it will issue a written ruling on the attempts by two Michigan pension funds to block the sale of Bear Stearns to JPMorgan.

UK - Fund managers have reported an optimistic outlook despite the ongoing credit crunch, according to new research by PriceWaterhouseCoopers (PwC) and the CBI.

UK - Lower prices and better income security for scheme members have increased the popularity of occupational pension fund buyouts over the past twelve months, according to Watson Wyatt.

INCLUDING: NETHERLANDS - LCP opens Dutch office; UK - Pensions Regulator code before Parliament; UK - Head chosen for Capita Hartshead investment consultancy

HM Treasury, the department for work and pensions and The Pensions Regulator have launched a consultation on developing a "refreshed and simplified" set of Myners principles.