ITV has started preliminary discussions with the trustees of its pension fund over a partnership arrangement under which one of its subsidiaries would provide asset backing to the scheme.

Hewitt Associates has hired John Rushen as head of its UK investment consulting practice as part of an internal reorganisation.

Treasury minister Paul Myners has called for the establishment of an independent Council for Institutional Investors to speak on behalf of schemes and other institutional investors.

HM Revenue & Customs will go out to consultation on amendments to A-Day regulations that threaten members' tax free cash on wind-up for the second time, PP has learned.

The Pension Protection Fund proposal to reduce the cap on its risk- based levy to 0.5% of liabilities has had a mixed reception.

EUROPE - T. Rowe Price has launched its first global fixed income absolute return strategy.

The Accountancy and Actuarial Discipline Board has launched a probe into the conduct of an actuary in connection with Equitable Life.

T. Rowe Price has launched its first global fixed income absolute return strategy.

UK - The volume of buyout transactions will rise to £5bn (US$7.9bn) in 2010 as prices become lower and more stable, the Society of Pension Consultants predicted.

The £5bn Co-operative Group Pension Scheme has appointed Mercer to provide it with implemented consulting services for its alternatives investments.