Defined benefit scheme closures driven by the end of the contracting out is a price worth paying to ensure a simple single tier state pension, a leading commentator says.

Here are the key figures from today's announcement on the increases to employee public sector pension contributions.

Government has launched a consultation on proposed hikes to teachers, nurses and civil service pension contributions as it moves to save £1bn by April 2013.

Northamptonshire County Council and Cambridgeshire County Council are set to team up to invest in a joint IT upgrade saving up to 40% in pension administration costs.

Aviva Investors has launched a handful of real estate funds to help provide pension funds with long-term revenue streams in a bid to hedge liabilities.

Barclays Bank will enter the UK infrastructure debt market with the launch of a fund aimed at unlocking £500m in pension fund assets to help boost Britain's ailing infrastructure.

Asset management firms will push to take control of defined contribution default fund design as the market develops more sophisticated strategies, the Investment Management Association predicts.

UK - The £4.3bn ($7bn) Lancashire County Council pension fund has become the fourth local government pension scheme this year to hand Northern Trust a custody mandate.

More than three-quarters of respondents to a consultation on a £140 a week single-tier state pension back the proposal, the government says.

Balance pooled funds have continued their strong run of positive returns after posting a 1.3% return in Q2 this year, figures show.