The levy scaling factor set by the Pension Protection Fund (PPF) will see some pension schemes’ risk levy increasing by 235% more than they originally budgeted.

Hedge funds are a bit like the government, in that they can be blamed for a lot of things and are expected to lump it. An industry that chooses to base itself in Mayfair is probably fair game, but their restrictions on publicity, both legal and self-imposed, have made them shadowy figures of mistrust too.

Consultants have been unanimous in their criticism of the surprise hike in the Pensions Protection Fund’s (PPF) scaling factor.

University staff could face working beyond normal retirement age or sharing the cost of future pension increases, under proposals set out in a new report.

A scheme member who saw his potential pension slashed from £66,000 a year to £17,000 by the PPF is seeking redress through the Pensions Ombudsman.

Annuities providers have hailed the credit crunch as a driving factor behind the best rates since 2004.

More than a quarter of defined benefit (DB) schemes face falling foul of the Pension Regulator’s expectations that scheme deficits will be cleared over 10 years.

The Pensions Regulator’s extended powers, given to issue companies with contribution notices, have been defended by the minister for pension reform.

Paternoster calculates that the cost of securing pension liabilities rose by 3% in April (‘DB liability costs see a rise’, PW 26.05.08).

Scottish Widows has played down speculation that it is to receive a legal challenge over advice it gave to around 100 final salary pension schemes.

Pension Insurance Corporation (PIC) has completed its first full defined benefit pension scheme buyout deal.

The Financial Services Authority (FSA) is seeking to reassure the pensions market that it understands the challenges the retail distribution review (RDR) provides.

A new international code of pension trustee ethics is hoped to spread best practice around the world.

Soaring inflation could slash the purchasing power of pensioners with fixed rate annuities by a fifth over the next five years.

Continued hikes in the price of oil will affect equity valuations as demand continues to outstrip supply, industry experts predict.

Pension schemes should review their investment strategies to prepare themselves for a prolonged period of volatility in global equity markets.

Weak sterling, high oil prices, increasing levels of debt and poor growth levels are contributing to a probable UK recession, according to Legal & General.

Analysis: On its own, Value at Risk is a useful but narrow-minded tool for measuring risk, but in conjunction with specialist managers and complementary models it can offer funds greater perspective, says Charlie Thomas

The pensions world we’re heading for in 2012 looks like it will be very different to the world we live in at the moment. The private sector final salary schemes that have been so dominant in the workplace for nearly half a century will probably be almost gone by then. The vast majority are already closed to new employees and are a long way down the road to complete closure. By 2012 I doubt any such schemes in the private sector will still remain open to new entrants to the workforce and many, many more will have shut down altogether for existing employees too.

Being a trustee of a pension scheme is an increasingly demanding role, which potentially involves being personally exposed to claims if something goes wrong. This undoubtedly deters some people from agreeing to act as trustees, but there are a number of steps that can be taken to protect individuals concerned with personal liability. One approach is to appoint a company as trustee, rather than individuals. This affords the individuals involved, who act as the corporate trustee’s directors, a degree of protection from civil liability. However, claims can be made against a director if he acts dishonestly.

As implementation of the Solvency II regulation moves closer, European bodies are reviewing its relevancy for defined benefit schemes across the continent

With executive pay still under scrutiny, Tom Powdrill asks if government intervention is the answer

Supporting trustees

What drives actuaries?

Private and institutional investors have traditionally used long-only funds that invest in equities, bonds and/or cash as the foundations of a balanced investment portfolio. However, they are increasingly turning to hedge funds, favoured for many years by sophisticated investors, for new sources of return.

A fund that can weather all types of economic performance is a fine thing. But what does it actually look like? In the first article in this special focus, fund managers and investment consultants give their take on what the term means. This illustrates what an all-weather investment product looks like.

All-weather investing may be new terminology, but the theories behind the strategy are tried and tested for generating reliable returns, says Martin Fagan

Assessing risk and rebalancing portfolios is the key to all-weather investing, says Paul Moody

The Association of Consulting Actuaries (ACA) has elected Keith Barton (pic) as its new chairman.