|
17-Jun-08 11:24 [Americas]
US pension plans 'have healthy year' Mercer's annual retirement plan survey has revealed that US Fortune 500 pension schemes have had their best funded year since 2001.
Figures showed that total aggregate pension assets stood at $1.56 trillion (£0.8 trillion) which is greater than liabilities that stood at $1.5 trillion, reports industry publication Global Pensions.
Net asset returns were reported to be higher than expected at 9.6 per cent.
The magazine also states that the majority of pension plans invested most heavily in equities, which account for 60 per cent of asset schemes.
Richard McEvoy, principal, Mercer Financial Strategy Group, said: "As we move forward in 2008, the capital markets and the economic environment remain volatile."
He added that equities were generally falling in value and discount rates were rising, which made it difficult to predict the status of pension funds by the end of the year.
It was also reported by Global Pensions that US publisher Gannet was freezing its defined benefit pension plan in order to try and save $90 million a year.
Please click here for more UK employee pension news
The last 12 months have proven to be a very painful time for pension funds in Ireland, according to an investment consultant service's research this week.
Find out more>
In response to a worsening situation on the high street, major retailer Marks & Spencer (M&S) has announced 1,200 job cuts and big changes to the current final salary pension scheme they offer.
Find out more>
The value of the hours of unpaid overtime in the UK is £26.9 billion, according to the Trades Union Congress (TUC).
Find out more>
|
