Defined contribution investment strategies must focus more on member outcomes and less on turning savers into investment experts to succeed during auto-enrolment, consultants say.

The £10m publicity drive for auto-enrolment could tempt council pension scheme members to opt-out and move into "inferior, cheaper alternatives", the Merseyside Pension Fund warns.

Independent trustees running the Telent Pension Scheme and a US-based government workers fund have seeded a subordinated debt fund managed by Cairn Capital with £39m.

UK - Schemes with liability- driven investment strategies could shave one-third off their Pension Protection Fund levy payments by doing a "bespoke" analysis of investment risk, LCP says.

Schemes with liability- driven investment strategies could shave one-third off their Pension Protection Fund levy payments by doing a "bespoke" analysis of investment risk, LCP says.

Advisers have welcomed plans to introduce a compulsory code of practice for insurers which is designed to encourage consumers to shop around for an appropriate annuity when they approach retirement.

Local government pension scheme employers are urging government to allow changes to member accrual rates instead of increasing contributions as part of public sector pension reform plans.

The final phase a cost sharing research exercise for Scottish local government pension schemes could be shelved after initial findings dismissed plans to merge 11 funds.

Trade unions have proposed a "tramway" system for the public sector pension cost envelope which would give a two per cent leeway either side of fixed costs.

Lord Hutton has "misunderstood his own report", a trade union has claimed, after the former Labour minister accused it of not understanding the cost of public sector pensions.