SPAIN - The Spanish government denied it planned to increase the number of contributory years needed to retire, but said it would continue with plans to raise the pension age by two years.

DENMARK - Pension manager ATP posted overall investment returns of 8.5% for 2009, but officials remain unsure about whether or not they can increase pension payments next year.

The current draft of the Alternative Investment Fund Managers European directive could give rise to significant legal uncertainty, a committee of the Bank of England says.

EUROPE - The current draft of the Alternative Investment Fund Managers European directive could give rise to significant legal uncertainty and "systemic failure", a committee of the Bank of England said.

Nearly one-third of panellists said the investment rules they operate under are too restrictive and could prevent them from reaching their investment goals.

Over 63% of the respondents of Global Pensions 100 Panel said US president Barack Obama's proposals to help keep banks from becoming too big to fail will have a positive effect on the asset management industry.

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds Medewerkers Apotheken (PMA) has filed a federal court lawsuit against State Street Bank and Trust alleging breach of fiduciary duties and securities fraud following losses in a 120/20 fund.

US - Major US pension funds have invested in the second infrastructure fund raised by Alinda Capital Partners, which recently closed at US$4bn.

US/EUROPE - A group of investors led by the Retirement System for the General Employees of the City of Miami Beach have won a class action trial against Vivendi and will be entitled to recover an estimated US$9.3bn.

US - The New York City Employees' Retirement System (NYCERS) will sue Apple's Steve Jobs and other key managers for the second time after an appeal court granted the pension fund the right to do so.