Three funds including a Singaporean sovereign wealth fund have agreed to acquire a combined 64% stake in Rothesay Life from Goldman Sachs.

The introduction of auto-enrolment (AE) has led to a significant increase in defined contribution (DC) schemes' allocations to real estate, according to a Pensions Institute (PI) report.

The big focus on the second day of the National Association of Pension Funds (NAPF) Annual Conference was auto-enrolment.

Almost half this week's respondents backed calls for mandatory qualifications for professional trustees.

More than half this week's contributors rejected the notion of the Pension Protection Fund (PPF) taking on the schemes of solvent employers.

This week respondents support the idea of qualifications for professional trustees, back calls to let members use funds for long-term care, and say actuaries will always find a role in pensions.

Contributors supported by a margin of two to one the idea of ring-fencing money raised through the Royal Mail sell off to fund the pension deficit taken on by the government.

The majority of contributors believe there will continue to be a role for actuaries in the pensions industry, even as defined benefit (DB) provision is phased out.

There was strong support for the idea of letting scheme members use some of their pension pot to pay for the cost of long-term care in retirement.

The Pension Protection Fund levy is unlikely to fall significantly in the near future, in spite of rising funding levels, warns the fund's chief executive.