EUROPE/US - Swiss Re has transferred $50m of longevity trend risk to the capital markets.

US - The California Public Employees' Retirement System (CalPERS) has submitted a shareholder proposal to Apple calling on the computer firm's directors to win at least a majority of votes to retain their board seat.

SPAIN - Spain's pension overhaul will be "as ambitious" as the government's initial proposal, which included an increase in the retirement age, Prime Minister Jose Luis Rodriguez Zapatero has said.

JAPAN - The Government Pension Investment Fund should establish a board of directors and employ a chief executive and chief investment officer, a report by the OECD has concluded.

CANADA - Canadian Finance Minister Jim Flaherty said he and his provincial counterparts have agreed to create "pooled pensions" which will make it easier for small companies and the self-employed to participate in registered pension plans.

EUROPE - Pension funds are moving deeper into alternatives as they reduce their exposure to equities, Mercer European head of investment consulting Tom Geraghty believes.

CANADA - The Caisse de dépôt et placement du Québec has awarded C$25m ($24m) of financing to Riverbank Power following its merger with Symbiotics Energy.

US - A lobbyist for the California Public Employees' Retirement System has promised a "major fight" over congressional Republican legislation to force wider disclosures from state and city pension funds.

US - New York Attorney General Andrew Cuomo has reached an agreement with two investment firms as part of his ongoing investigation into the state's pension fund.

AUSTRALIA - The Australian government has unveiled its plans to reform the superannuation industry, including cuts to management fees and the introduction of the MySuper default fund.