US - President Barack Obama, in his speech unveiling $4trn in budget cuts yesterday, said he wanted to avoid drastic cuts to Social Security, but that the system needs reform to strengthen it over the long haul.

GLOBAL - The future impact of pension costs should be taken into account when evaluating the fiscal health of a country, three IMF officials said in a new report.

MALAYSIA - The Malaysian government plans to conduct a full review of institutional investment strategies to see if any changes could lead to a more robust local economy.

MALAYSIA - A new third pillar pension will be in place in Malaysia by year-end, prime minister Najib Razak said today.

MEXICO - The Principal Group will acquire HSBC's Mexican pension fund business for $198m.

Towers Watson president and chief operating officer Mark Mactas will retire at year-end after more than three decades with the firm, the consultancy confirms.

US - Towers Watson president and chief operating officer Mark Mactas will retire at year-end after more than three decades with the firm, the consultancy announced.

Kentucky Retirement System, Mercer, PensionsFirst, Towers Watson, Northern Trust, J.P. Morgan

NORWAY - Norway's Government Pension Fund Global should reduce its weighting to Europe and will consider changes to its fixed income portfolio, finance minister Sigbjorn Johnsen said in a report to parliament today.

US/CANADA - Searches for hedge fund managers and inflation-hedging strategies among North American institutions will dominate search activity in 2011, a new survey of consultants finds.