Global

The gap in UK defined benefit (DB) pension funding has now reached £900bn, an increase of £80bn from yesterday, as a result of UK's decision of leaving the EU, Hymans Robertson has confirmed.

It is understood that despite the UK voting to leave the EU, the Solvency II directive is still applicable to UK insurers until new legislation is established.

Pharmaceutical firm Pfizer has announced it is proposing to close its defined benefit (DB) pension schemes for its staff in Ireland from 2018.

Transport and related projects have been rated as the sectors that have performed particularly well, according to a report by Deloitte.

The Australian government has announced it is to link the objective of the country’s private pensions system with retirement income under a standalone Act.

Critics of the pension industry have praised the European Insurance and Occupational Pensions Authority (EIOPA) for deciding not to recommend a EU-wide solvency regime for defined benefit (DB) schemes.

The year 2015 was the deadliest for terrorist violence in Europe in nearly a decade, according to Aon Risk Solutions.

Ireland is most likely to win the 2016 RBS Six Nations Championship, actuaries have said.

The Economic and Monetary Affairs Committee (ECON) of the European Parliament has approved the revised Institutions for Occupational Retirement Provision (IORP) Directive, on a vote of 47 to three.

Prolonged period of low interests rates will create “significant future challenges” to the strength of pension schemes, according to the European Insurance and Occupational Pensions Authority (EIOPA).