SINGER songwriter is apparently bringing something new to Glastonbury festival today, when he launch...
SINGER songwriter is apparently bringing something new to Glastonbury festival today, when he launches the Roadcrew Provident Syndicate (RPS), a financial advice scheme for roadies who are too old to rock but too young to die, says the Times.
The initiative has been designed because too many roadcrew operatives struggle to buy insurance and pensions from mainstream firms, because they spend a significant part of their day "dangling from rigging 60ft in the air".
Other pension providers shun individuals in this line of work because employment is so sporadic, so there are a lot of old rockers without a pension who eventually fall into hardship.
THE INVESTMENT Management Association says it will publish reports from its fund manager members to try and improve the efficiency of boardrooms and help with the row over "fat cat" pay and perks, says the Scotsman.
Campaigns by the NAPF and the ABI has boosted clarity about what share owners want from companies, but the first substantial report should be ready by the end of the year, says the IMA, to show how firms have improved best practices.
STANDARD LIFE Investments has signed a deal with Citigroup to outsource its global custody administration and settlement of the £70bn investment portfolio, in a deal which will see Citigroup enter the Scottish life market, adds the Scotsman.
Around 90 staff are now expected to switch from SLI's George St headquarters to Citigroup's new Edinburgh office in the eight-year deal, to handle the daily pricing of over 500 funds which in turn leads to the processing of around 500,000 transactions every year.
Citigroup will now take care of the settlement of buying and selling decisions, income collection, cash management, foreign exchange and look after all paper documents.
Citigroup's contract with SLI, which will run for eight years, is a major coup for the US bank and will provide a powerful base on which to attract other investment administration and global custody business to its Edinburgh office.
AMICUS, now Britain's second largest union, is threatening to take the government to the European Court of Justice over what it calls their failure to protect workers pensions rights, continues the Times.
They are looking to file the action in the wake of the collapse of pension benefits of Associated Steel and Wire (ASW) and United Engineering Forging, alleging that member states has so far failed to implement a European solvency directive protecting pension members retirement benefits.
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