US - New York State Governor Andrew Cuomo has introduced pension reform legislation that would impose a new Tier VI for future employees and save taxpayers $93bn over the next 30 years.

US - More than two dozen major institutional investors, collectively managing $1trn in assets, have asked the Russell 1000 companies to actively embrace the "new reality" of ESG risks.

US - The Pension Benefit Guaranty Corporation is seeking $25m in damages from Morgan Stanley Investment Management over risky pension investments it made for New York's Saint Vincent Catholic Medical Centres' pension plan.

LITHUANIA - Lithuanian is to to raise the pension age to 65 in a bid to improve the country's finances.

Pension funds considering a move into the European property market should act with caution, Hatfield Philips International warns.

UK - State Street Global Advisors (SSgA), has appointed Bill Street as global head of fixed income alpha strategies.

EUROPE - Pension funds considering a move into the European property market should act with caution, Hatfield Philips International (HPI) has warned.

AUSTRALIA - The CEO of the AU$5.8 (US$6.15bn) MTAA Super has hit back at media reports suggesting the fund lost A$500m during the global financial crisis because it removed hedges as the Australian dollar was plummeting against other currencies.

AUSTRALIA - Superannuation assets increased by 3.3% to A$1.36trn (US$1.44trn) in the first quarter of 2011, the Australian Prudential Regulatory Authority (APRA) said.

GLOBAL - The emerging markets and commodities boom along with the effects of the economic stimulus packages mean pension schemes have found themselves struggling to make sense of inflation expectations, a new report suggests.