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Pension News for 1-14 Nov 2008

December 4, 2008

14 November

‘1.5m planning pension break’
The Press Association
One in 12 people are planning to stop paying into their pension during the coming two years in a bid to save money, research has shown. …
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US Judge holds freeze on Argentine pension funds
guardian.co.uk - UK
By Grant McCool and Daniel Bases NEW YORK, Nov 14 (Reuters) - A US judge on Friday maintained a freeze on Argentine pension fund investments in the United …
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Money matters: Counting cost of pension ‘holiday’
Scotsman - United Kingdom
URGENT action is needed to prevent pension investors from reducing or stopping their contributions, Axa has claimed. The insurer has estimated that up to …
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TARP City
Wall Street Journal Blogs - New York,NY,USA
Three of America’s largest cities have asked the US Treasury for billions of dollars to shore up pension systems, cover short-term borrowing needs and boost …
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Three big city mayors seek share of bailout
The Associated Press
They sought help with the pension costs, infrastructure investment and cash-flow problems stemming from the global financial crisis. …
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Canada Pension Bought Royal, Toronto-Dominion, Sold Manulife
Bloomberg - USA
14 (Bloomberg) — Canada Pension Plan Investment Board took advantage of a global decline in financial stocks in the third quarter to increase its bet on …
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3 Things That Could Go Wrong With Your Pension
U.S. News & World Report - Washington,DC,USA
But when companies face hard times, the future benefits workers expect to accrue in their pension plans are at risk. Private-sector pensions have lost …
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Judge rules Dr. Robert Stokes must forfeit portion of pension …
MLive.com - MI,USA
AP NEWSFLASH by Nate Reens | The Grand Rapids Press GRAND RAPIDS — Imprisoned dermatologist Robert Stokes must forfeit a portion of his pension accounts to …
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Mayors of Philadelphia, Phoenix seek bailout share
The Associated Press
The mayors sought help with their pension costs, infrastructure investment and cash-flow problems stemming from the global financial crisis. …
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Big-city mayors seek share of federal bailout plan
Forbes - NY,USA
The three mayors propose providing loans to help cities pay pension costs. They also want $50 billion in loans for investment in infrastructure, …
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‘…Start a national pension scheme for UK workers’ — Isa McDermott
Many of us, do not have a pension because of fear of mismanagement by the…
Number 10 E-Petitions - New Petitions - http://petitions.number10.gov.uk/list

Press Releases: Financial Turbulence Hits Canadian Pension Funds …
The current financial crisis is creating extreme uncertainty and potentially huge increases in 2009 contribution requirements for Canadian sponsors of defined benefit plans, according to a recent analysis conducted by Watson Wyatt …
News - http://www.watsonwyatt.com/

$4 trillion “lost” by pension funds
By pjwalker911
Losses were highest in Ireland, the US and the Netherlands, where exposures to equities were the highest at the end of 2007; pension funds in those countries lost 20% or more of assets on average, according to OECD’s website. …
Aftermath News - http://aftermathnews.wordpress.com/

FCStone freezes pension increases, sees profit drop
Kansas City-based FCStone Group Inc. reported a 38 percent drop in its fiscal fourth-quarter earnings and a freeze on future increases in its employees’ pension benefits.
Kansas City, MO News RSS Feed… - http://www.yourstreet.com/news/kansas-city-mo

Minister bows to industry pressure on pension protection
The requirement for companies to cover pension liabilities when winding up a scheme is to be reviewed by the Government.
Latest News from ICSA Chartered… - http://www.charteredsecretary.net/

13 November

New rule could change pension payouts for some new retirees
MarketWatch - USA
By Robert Powell, MarketWatch BOSTON (MarketWatch) — First, the good news, because it won’t take as long: Many of the nation’s largest traditional pension …
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Fitch Downgrades Mendocino County, California Pension Bonds to ‘A …
MarketWatch - USA
Outstanding debt consists of pension obligation bonds and certificates of obligation. Debt service payments on the pension obligation bonds are an absolute …
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Market Turmoil Causes Pension Pain for Employers and Workers
MarketWatch - USA
As Congress searches for solutions to the economic crisis, it should not overlook the impact on pension plans - and the millions of American workers covered …
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Which companies want pension relief?
Baltimore Sun - United States
Verizon sent me the full letter, including signatories, of pension sponsors requesting relief from Capitol Hill. With pension funds facing billions of …
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Pension option: Actuaries’ report lifts staff hopes
Hindu Business Line - Chennai,India
The report said that it would cost the public sector banks around Rs 6000 crore, if they were to allow the second pension option. Chennai, Nov. …
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BRIEF-PGI trading in-line but warns on pension deficit
Forbes - NY,USA
The company says the recent heavy falls in global stock markets may increase the deficit in its defined benefit pension scheme.
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Companies Ask Congress for Pension Relief
U.S. News & World Report - Washington,DC,USA
Roughly 300 companies are lobbying congress to temporarily loosen pension-funding rules. The companies, which span multiple industries and include DuPont, …
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FAQ: Post Office benefits contract
guardian.co.uk - UK
The group is facing a £4bn pension fund deficit, and the position is worsening because of stockmarket falls. At last some, in the form of the award of the …
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Retired priests can now pick up pension
By Sotto Voce(Sotto Voce)
Before 1988, clergy were not included in state pensions, but from that year, when it became obligatory for the self-employed to pay PRSI, priests were registered as self-employed and became responsible for their own tax returns. …
Clerical Whispers - http://clericalwhispers.blogspot.com/

Press Releases: Market Turmoil Causes Pension Pain for Employers …
Watson Wyatt urges Congressional action. [UNITED STATES]
Retirement Articles and News - http://www.watsonwyatt.com/

Portland debt clock ratchets up for bad pension news
As reported here yesterday, the City of Portland has announced to the world that it had been underestimating the magnitude of its unfunded liability for pension and disability obligations to its police and firefighters. …
Jack Bog’s Blog - http://bojack.org/

What You Need To Know About Corporate Pension Plans
By Lynn Carpenter
The problem with Lockheed Martin and several other companies is that the potential for big pension shortfalls is craftily understated in the discount rates they use in their projections. Lockheed has been using a discount rate of 7.5% …
Contrarian Stock Market Investing… - http://www.contrarianprofits.com/

Court rejects claim of expat frozen pension campaigners
The European Court of Human Rights (ECHR) has rejected, by six-to-one, the claim of a consortium of expat pensioner groups, that the UK’s frozen pensions policy is discriminatory and in breach of the Human Rights Act. …
Expat Focus - http://www.expatfocus.com/

12 November

General Motors Pensions Plans Are Currently Solvent
CNNMoney.com - USA
(GM) on Wednesday said regardless of what happens to it financially in coming months, the auto maker doesn’t expect its pension programs to become …
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Shortfall in pension fund at $2.7 million
San Diego Union Tribune - United States
By Matthew T. Hall The gap between promised pension benefits for San Diego city employees and available money to pay them has ballooned to $2.7 billion, …
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The Principal to Congress: Save US Pension Plans
MarketWatch - USA
DES MOINES, Iowa, Nov 12, 2008 (BUSINESS WIRE) — Companies with defined benefit pension plans may soon find themselves between a rock and a hard place: …
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City Hall blog: Dallas employees’ pension fund has lost $1 billion …
Dallas Morning News - Dallas,TX,USA
By RUDOLPH BUSH / The Dallas Morning News Thanks to the plunging markets, the Dallas Employee Retirement Fund is down $1 billion in value over the last 12 …
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Grand Rapids city pension funds take a hit as market falls
MLive.com - MI,USA
by Jim Harger | The Grand Rapids Press GRAND RAPIDS — The City of Grand Rapids’ pension funds have lost more than $225 million since late May, …
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Company pension protection rules to be reviewed
Reuters UK - UK
By Tim Castle LONDON (Reuters) - The government is to review legal safeguards preventing unscrupulous employers from walking away from their pension schemes …
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Seattle’s budget, pension, port taxes plus reader comments on …
Seattle Post Intelligencer - USA
Also the story about companies asking for pension relief. The Port of Seattle’s tax increase. Did voters give a blank check to all tax increases? …
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Canadian Pension Plan Funding Levels at Record Low, Globe Says
Bloomberg - USA
12 (Bloomberg) — Canadian pension plans’ funding levels may have fallen to a record low of about 72 percent of their obligations, the Globe and Mail …
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Priests face €11600 pension cut as diocese deducts State equivalent
Irish Times - Dublin,Ireland
From now on, the archdiocese intends contributing just the difference between that contributory State pension and the current total salary for retired …
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Companies push Congress for pension relief
The Associated Press
WASHINGTON (AP) — With pension funds facing billions of dollars in shortfalls as markets plunge, a range of companies from Ford to Verizon are pushing …
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11 November

UC employees to resume contributing to pension plan after 18-year …
Bizjournals.com - Charlotte,NC,USA
It’sa move occurring across the country as pension plans and endowments feel the pain of the financial turmoil after chalking up robust gains for several …
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Unions work to restore pension package
Livemint - Delhi,Delhi,India
New Delhi: Trade union representatives on Tuesday started working towards restoring pension benefits to tens of millions of workers who risk having these …
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Reader: What Will Happen to My Pension if My Company Tanks?
U.S. News & World Report - Washington,DC,USA
Can you tell me in general terms how the U.S. Pension Benefit Guaranty Corp. (PBGC) would take over if Ford dumps their pension liabilities on PBGC? …
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THI boss in court for failure to remit pension contributions
DailyNewsOnline - Dar es Salaam,United Republic of Tanzania
… of the Tanzania Heart Institute (THI), Dr Ferdinand Masau, for allegedly failing to pay over 79m/- statutory pension contributions for his employees. …
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African bourses move to attract pension funds
Global Pensions - London,UK
ASEA, which represents 20 stock exchanges from 27 countries, wants more institutional investors, pension funds, mutual funds and hedge funds to consider …
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£1m fine for pensions mis-selling
BBC News - UK
A financial advice firm has been fined more than £1m by the City watchdog for mis-selling pension products. AWD Chase De Vere Wealth Management, …
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Reuters Summit-UPDATE 1-Fidelity woos Asia pension, gov’t funds
guardian.co.uk - UK
"Sovereign wealth funds, large pensions, some of those funds, not all of them, are looking at the current markets as an opportunity to adjust their asset …
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Clearing obstacles for funds paying pensions
The Australian - Sydney,Australia
THE prohibition on redeeming some unlisted managed funds is creating a large dilemma for many superannuation funds, particularly those paying a pension. …
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BT cuts final salary pension link
BBC News - UK
It wants to cut the traditional link with final salaries, to raise the retirement age to 65, and to build up pension entitlement at a slower rate. …
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Financial crisis hits Britons’ retirement hopes
The Associated Press
Barings’ survey found that 35 percent of non-retired British adults have made no pension provision at all — and yet still expect on average to be able to …
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10 November

Business Lobbies New Administration for a Pension Break
Workforce Management - Irvine,Ca,USA
Getting Obama and lawmakers to pay attention to pension funding could prove to be a major challenge. So lobbyists are preparing to make a broader case for a …
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RH Donnelley to freeze pension plans
Bizjournals.com - Charlotte,NC,USA
RH Donnelley will freeze its pension plans for workers on Jan. 1, the company says, replacing the retirement coverage with an enhanced 401(k). …
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Ways to deal with pensions and divorce
Belfast Telegraph - United Kingdom
Question: I am currently going through a divorce and understand that my pension has to be taken into account. Can you outline what options are open to me …
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Credit crunch ‘hits pension hopes’
The Press Association
People now expect to retire a year later than they did last year, after the recent financial turbulence hit their confidence in pensions, research has shown …
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Premiers urge quick action on pensions, infrastructure
The Canadian Press - OTTAWA
OTTAWA — The premiers are urging Ottawa to act quickly on protecting the viability of pension plans, speed up infrastructure spending and rescue Ontario’s …
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Insurer makes pension error payback
The Press Association
Those who have yet to draw their pension will have it increased to the level it would have been at if the error had not occurred.
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Private pension funds now £100bn in red after ‘extinction event …
Daily Mail - UK
Latest figures, published yesterday, show Britain’s 7800 final salary pension schemes have a black hole of nearly £100billion. …
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Alarming Number of Employees Unable to Receive Pension Checks
Mass Media Distribution LLC (press release) - Naples,FL,USA
PLAINVIEW, NY (MMD Newswire) November 10, 2008 - - Americans who thought their money was safely put away in traditional pension plans are now faced with …
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Pension scheme deficits worsen
BBC News - UK
UK final salary pension schemes have fallen even deeper into the red because of falling share prices, says the Pension Protection Fund (PPF). …
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9 November

Pension funds set to flee equities
Financial Times - London,England,UK
By Steve Johnson Pension funds and other institutional investors look set to turn their back on active equity managers as they reassess their strategies in …
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Icelandic pension funds to delay bond payments
Financial Times - London,England,UK
By Spencer Anderson Icelandic pension funds have decided to restructure and postpone domestic corporate bond payments, in an effort to prevent further …
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Workers to migrate to 3-tier pension scheme
Joy Online - Accra,Ghana
Workers aged below 55 and currently on the Social Security and National Insurance Trust (SSNIT) will automatically move to the new three-tier pension scheme …
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Vets’ ex-partners face pension war
Melbourne Herald Sun - Australia
THE partners of hundreds of disabled war veterans face a pension cut if the Senate passes proposed changes today. The move to stop the separated partners of …
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In brief: Pension shortfall
Kansas City Star - MO,USA
The defined-benefit plans of companies in the Standard & Poor’s 500 are now underfunded by a total in excess of $200 billion, according to an estimate by …
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8 November

Scots pension ‘crisis’ looms unless employer contributions soar
Sunday Herald - Glasgow,Scotland,UK
"For many years, employers with final salary schemes had pension contribution holidays because the stock market was doing well and regulations prevented …
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Sreelatha Menon: Pension comfort
Business Standard - Mumbai,Maharashtra,India
A slew of private sector schemes tap the small savings of the informal sector to provide pension cover to the old who are not covered by any government …
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Pension-case allegations by SEC panned by judge
San Diego Union Tribune - United States
It said they did not disclose to bond buyers that the city faced huge costs for funding its pension and retiree health obligations that could only be met by …
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Former TrentonWorks employees still waiting for pension cheques
TheChronicleHerald.ca - Halifax,Nova Scotia,Canada
By MARY ELLEN MacINTYRE Truro Bureau Vern Cooke continues to wait for his pension from a Pictou County railcar manufacturer that closed down last year. …
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Argentine Stocks Decline After Pension Vote; Tenaris Drops
Bloomberg - USA
Legislators voted 162 to 75 to back President Cristina Fernandez de Kirchner’s plan to seize about $26 billion in private pension funds after a session that …
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Argentina passes pension privatisation bill
ABC Online - Australia
The controversial proposal has sparked demonstrations throughout the country but after a rigorous 14-hour debate, the Lower House passed the bill. …
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7 November

Property dips as top pension plan
Scotsman - United Kingdom
PLUNGING house prices have diminished faith in property as a pension investment, new research has revealed. Just 33 per cent of people polled by Alliance …
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British workers unaware of how a company pension can help
Scotsman - United Kingdom
OPTING against joining their company pension scheme costs UK workers a total £5.07 billion a year, Prudential has claimed. It said that two thirds of …
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Argentine stocks fall on pension takeover news
The Associated Press
SAO PAULO, Brazil (AP) — Argentine stocks fell Wednesday after lawmakers approved a plan to nationalize pension funds. But other Latin American markets made …
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Argentine pension nationalization near
Pensions & Investments - Chicago,IL,USA
By Drew Carter Argentina’s nationalization of private pension funds was approved early this morning by the country’s lower house, the Chamber of Deputies, …
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Argentine stocks fall on pension takeover news
Economic Times - Gurgaon,Haryana,India
SAO PAULO, BRAZIL: Argentine stocks fell steeply on Wednesday after lawmakers approved a plan to nationalize pension funds. But other Latin American markets …
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Argentine house backs pension nationalization
International Herald Tribune - France
AP BUENOS AIRES, Argentina: A bill to nationalize $23 billion in private pension funds easily won approval in Argentina’s lower house of Congress on Friday. …
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Analyst: Steel firms could face new pension woes
Forbes - NY,USA
AP 11.07.08, 11:55 AM ET Steel companies’ pension assets are expected to fall sharply because of deteriorating financial market conditions, according to a …
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IMF Agrees $15.7 Billion Loan to Bolster Hungary’s Finances
International Monetary Fund - Washington,DC,USA
Under the authorities’ program, expenditure restraint will be achieved in part through reductions in the overall government wage and pension bill. …
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Despite Huge Profits Big Oil Has Big Hole in Pension Funding
Workforce Management - Irvine,Ca,USA
That included Exxon Mobil, ConocoPhillips and Chevron, which have been reporting huge profits but still had three of the 10 most underfunded pension plans …
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Pension Law Advances to Argentina Senate
Wall Street Journal - USA
By MATT MOFFETT BUENOS AIRES — Argentina’s lower house of congress overwhelmingly approved the leftist government’s proposal to nationalize private pension …
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6 November

Cut link between pension savings, employment, think-tank urges
Canada.com - Don Mills,Ontario,Canada
The institute says pension-plan participation in the private sector is at an all-time low of 23 per cent. Currently, Canadians cannot take part in …
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Fitch: Argentine Corporate Outlook Dismal with Pension …
MarketWatch - USA
‘The recent proposal by President Cristina Fernandez de Kirchner to nationalize the private pension funds threatens to eliminate the local bond market as a …
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Spanish Pension Funds Underperform
Global Money Management - New York,NY,USA
Spanish pension funds underperformed last month, returning only -3.4%. According to data issued by investment consultant Mercer, the negative returns in …
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Ontario Pension Commission report seminar
National Post - Toronto,Ontario,Canada
Calgary partner Chris Brown, who is co-chair of The Joint Expert Panel on Pension Standards reviewing pension reform in Alberta and BC, will be a panelist. …
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Canadian Pension Giant OMERS Closes Deal to Acquire Oncor Stake
MarketWatch - USA
"By leveraging the financial resources of the $52 billion(i) (Cdn) OMERS pension plan, with the active asset management expertise and discipline of the …
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US Pension Plan Funding Status Plunges in October, According to …
MarketWatch - USA
Funding ratios at the typical US corporate pension plan fell 3.7 percentage points in October as stocks had their worst month since 1987, according to BNY …
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City to raid healthcare fund to support pension
Global Pensions - London,UK
by Andrew Sheen 6 November 2008 US – New York City will raid up to US$1.1bn from its retiree healthcare fund to cover a pension plan funding gap over the …
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US pension funds put brakes on hedge fund bets
Reuters - USA
By Svea Herbst-Bayliss After helping the hedge fund industry double their assets to $1.7 trillion (1 trillion pounds) over the last three years, pensions …
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BRISTOL: Council Member Removed From Pension Panel
Hartford Courant - United States
… council member Ken Cockayne escalated on Wednesday when the mayor abruptly removed Cockayne from a committee studying a controversial pension proposal. …
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Turkish pension funds market seen growing 2008-09
Reuters - USA
ISTANBUL, Nov 6 (Reuters) - Turkish pension fund assets are set to grow to 6 billion lira ($3.9 billion) in total this year and to 9 billion lira next year, …
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5 November

US pension funds put brakes on hedge fund bets
guardian.co.uk - UK
By Svea Herbst-Bayliss BOSTON, Nov 5 (Reuters) - The love affair between US pension funds and hedge funds is cooling. After helping the hedge fund industry …
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Argentine Pension Protesters Gather at Congress on Eve of Vote
Bloomberg - USA
5 (Bloomberg) — Supporters and opponents of Argentine President Cristina Fernandez de Kirchner’s plan to nationalize about $26 billion in private pensions …
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Report split on pension financing options
The Daily Yomiuri - Osaka,Japan
The final report on the future of the basic pension system remained vague about how it should be financed, incorporating two seemingly conflicting proposals …
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Invesco Hires Former Pension Fund Manager
Markets Media (press release) - New York,NY,USA
He previously served as director of Institutional Asset Allocation at Banc of America Capital Management and assistant treasurer and director at Pension …
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Nigeria: Pencom Urges States to Embrace Contributory Pension Scheme
AllAfrica.com - Washington,USA
National Pension Commission (PenCom) has pleaded with states in the federation that are yet to adopt the contributory pension scheme to do so for the …
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Pension Reform Committee embarks on outreach programme
Joy Online - Accra,Ghana
The Pension Reform and Implementation Committee is embarking on a nation-wide outreach programme to educate the public on the new pension scheme, …
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HSBC risks trustee clash over pension changes
Times Online - UK
HSBC will decide within the next six weeks whether to press ahead with controversial changes to its pension arrangements in what could trigger a damaging …
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OC Voters Vote in Force for Pension-Changing Measure J
NBC Los Angeles - Los Angeles,CA,USA
Orange County residents overwhelmingly approved a measure Tuesday that gives voters final say on future county employee pension increases. …
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Japan pension funds eye more alternatives-JP Morgan
Reuters - USA
TOKYO, Nov 5 (Reuters) - Japanese pension funds plan to increase their investments in alternative assets while reducing domestic equities in their …
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Property Less Appealing Pension Investment
istockAnalyst.com (press release) - Salem,OR,USA
Only 33 per cent of people now think property will make up a substantial proportion of their pension income, down from 43 per cent last year, according to …
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4 November

Argentina’s pension plan seen clearing lower house
Reuters - USA
By Kevin Gray BUENOS AIRES, Nov 4 (Reuters) - President Cristina Fernandez is expected to win backing for a bill to nationalize Argentina’s private pension …
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Pension commutation withdrawn
Hindu - Chennai,India
NEW DELHI: The Union Labour Ministry has amended the pension scheme rules under the Employees Provident Fund (EPF) and Miscellaneous Provisions Act, …
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SIA letters turn up few pension data leads
The Daily Yomiuri - Osaka,Japan
Government efforts to identify the holders of unidentified pension records have not proved very successful despite the notification of 108 million …
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Personal pensions look to be falling behind
The Australian - Sydney,Australia
Collectively, Simpler Super, tax-free pensions for the over 60s, simple account-based pensions and tax-effective transition to retirement strategies have …
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Pension funds pile into UBS infrastructure fund
Global Pensions - London,UK
by Giovanni Legorano 4 November 2008 GLOBAL – Nearly half of the investors in the recently closed US$1.5bn UBS International Infrastructure Fund are pension …
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Property and stocks fall out of pension fashion
Reuters UK - UK
LONDON (Reuters) - The proportion of people naming property and shares as major components of their pension savings has slumped, according to a survey …
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US financial institutions owe executives over $40 billion
Economic Times - Gurgaon,Haryana,India
An analysis by The Wall Street Journal showed that financial giants getting cash injections owe over 40 billion dollars for the past year’s pay and pension. …
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Pension insurers switch strategies as assets fall
Sofia Echo - Bulgaria
Bulgarian pension funds have stepped up investments in bank deposits and corporate bonds and cut down on collective schemes in the first nine months of 2008 …
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Business Groups Urge Lawmakers To Ease Pension Accounting Rules
Alibaba News Channel - New York,NEW YORK,USA
WASHINGTON — A coalition of business groups have told Congress numerous companies may have to freeze or suspend their employee pension programs unless …
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3 November

Traditional pension and bonds (and stocks)
Marketplace - Los Angeles,CA,USA
I’ve got a three-part retirement plan: a government pension, social security and a 457k. Rather than following John Bogle’s advice to invest in bonds at a …
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Mean Street: Pursuing the American Dream. What’s Left of It
Wall Street Journal Blogs - New York,NY,USA
Retire at age 50 on a pension. Social Security kicks in at 62. Live comfortably until you die at 85. In effect, you receive 35 years of a government-secured …
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Fitch: Next McClatchy Cash Crunch Could Be Pension Funding
Editor & Publisher - USA
By Mark Fitzgerald CHICAGO The McClatchy Co. could face a new cash-flow pinch in the next few years as it accelerates funding of its pension obligations, …
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‘My property is my pension’ falls out of fashion
Telegraph.co.uk - United Kingdom
People saving for their pensions are turning their backs on property and shares in favour of company pensions, new research shows. …
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Fewer rely on property for pension
The Press Association
Only 33% of people now think property will make up a substantial proportion of their pension income, down from 43% last year, according to pension provider …
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Shock-proof your pension in minutes
Telegraph.co.uk - United Kingdom
If you have five or more years to go before you retire you could protect yourself from future misery by switching your existing pension to a fund that …
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Fitch: media may keep modest pension liabilities
CNNMoney.com - USA
NEW YORK (Associated Press) - Fitch Ratings said Monday that domestic media and entertainment companies will likely maintain modest pension liabilities in …
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Decrease in state pension checks expected
Chicago Tribune - United States
Retired state government workers are expected to see a decrease in their monthly pension checks. Wisconsin’s multibillion dollar public employee pension …
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Fitch: Pension Funding Requirements Still Achievable for US Media …
MarketWatch - USA
NEW YORK, Nov 03, 2008 (BUSINESS WIRE) — While pension plans of US media & entertainment companies should face weaker under-funded status heading into next …
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Nicholas Watts: Beware the dangers of pension recycling
Belfast Telegraph - United Kingdom
I refer specifically to the tax-free lump sum that you can take whenever you cash in your pension scheme. The practice of recycling this involves taking …
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2 November

New South Wales May Sell Government Pension Fund, Review Says
Bloomberg - USA
3 (Bloomberg) — The New South Wales government will sell its pension administration business for as much as A$70 million ($46.8 million) to help cover a …
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BT pension deficit soars by £5bn
Telegraph.co.uk - United Kingdom
The deficit in BT’s pension scheme guaranteed by taxpayers is estimated to have soared by £5bn this year to about £16bn due to the falling stock markets, …
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Pension system a disaster in the making
Globe and Mail - Canada
30 is the date, every year, on which the company measures the health of its pension schemes. When this year’s tallies are done, it’s going to be ugly. …
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Underfunded pensions may drain corporate cash
Economic Times - Gurgaon,Haryana,India
NEW YORK: Corporate pension plans, which were largely overfunded last year, are on their way to their greatest underfunded status in years, and could drain …
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Argentina pension funds try to avoid nationalization
Reuters - USA
BUENOS AIRES, Nov 2 (Reuters) - Argentina’s private pension funds will propose a series of reforms as an alternative to the government’s bid to nationalize …
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BT set for pension fund shake-up-newspaper
Reuters - USA
L: Quote, Profile, Research, Stock Buzz) plans to make large-scale reforms to its 35 billion pounds ($56.95 billion) pension scheme following last week’s …
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BT set to overhaul pension scheme
The Press Association
Telecoms giant BT is planning to overhaul its 69000-strong pension scheme to slash costs after last week’s shock profits warning, it has been reported. …
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Women have chance to fill gaps in pension payments
Scotsman - United Kingdom
Most women will have to work longer before handing back the office keys, but at least when they do retire they should receive a bigger state pension. …
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Memory stick loss shuts UK govt system
The Age - Melbourne,Victoria,Australia
The Department for Work and Pensions said the system’s security had not been breached, but a computer expert told the newspaper the data could enable …
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Tax website closed by security breach
Telegraph.co.uk - United Kingdom
Access to driving licence applications, VAT returns, pension entitlements and child benefit websites were shut down for two days this weekend as an …
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1 November

Argentine Debt Rating Cut by S&P Amid Default Concern (Update7)
Bloomberg - USA
Bond declines deepened last week after President Cristina Fernandez de Kirchner announced plans to nationalize pension funds, a move many investors said is …
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State pension fund down $1.9 billion
The News Journal - Wilmington,DE,USA
By JEFF MONTGOMERY • The News Journal • October 31, 2008 The global economic meltdown has reduced the value of Delaware’s public employee pension fund by …
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World markets up on pension fund buying spree
The Associated Press
LONDON (AP) — World markets rose Friday amid stock buying from pension funds balancing their portfolios at the month’s end and a general sense that share …
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Argentine Plan May Wipe Out Managers: Consultatio (Correct)
Bloomberg - USA
Consultatio and other portfolio managers in Argentina will complete the forced sale of pension funds’ Brazilian stocks today and probably will have to …
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Pension fund assets shrink
Aftenposten - Oslo,Norway
Norway’s 117 private and local government pension fund organisations have been hit by the economic crisis and many of them need more capital. …
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Denmark Eases Pension Rules to Stem Mortgage Declines (Update3)
Bloomberg - USA
The government, the Financial Supervisory Authority and the Danish Insurance Association agreed to let pension funds, which hold 25 percent of outstanding …
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Pension Funds Weakened By Stock Market Decline
TIME - USA
A new report from Goldman Sachs’ Global Markets Institute illustrates that massive equity losses have resulted in S&P 500 companies’ pension funds fading so …
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Pension funds still gambling on stocks
National Post - Toronto,Ontario,Canada
We’ve been wondering when operators of the great pension equity investment shell game would come calling on governments to bail them out, and here they are! …
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Written by Bear · Filed Under News