BERMUDA - The government of Bermuda this week passed the island's first piece of legislation concerning the licensing of fund managers.

SPECIALIST pension scheme administrator DC Link is to hold a seminar on communication in defined contribution pensions.

BELGIUM - Herd mentality is a significant problem in the Belgian pension fund industry and it is essential that liability streams be used as the basis for asset allocation, said Philip Neyt, chairman of the Belgian Association of Pensions Institution...

EUROPE - State Street Corporation has appointed three Europeans to its board of directors, effective immediately.

US - The US$39bn Illinois TRS has rejected a call by Senator Bill Brady to create a mandatory defined contribution plan for public employees, claiming such a move could prove "five times" more expensive.

UK - The release yesterday of the Pension Protection Fund's (PPF's) levy estimate for 2007/2008 has prompted widespread and varied criticism from consultants.

AUSTRIA - RREEF Infrastructure, as part of the Bonaventura Consortium, has agreed to design, build, finance and operate 51km of toll road in a deal with a total investment value of €945m.

Cost of pensions lifeboat rises more than fivefold; SocGen launches first hedge funds compliant with Sharia

PERU - The Congreso de la República (national congress) has postponed debate over a controversial law which would allow the transference of funds from private pension funds to the state system.

ACTUARY and consultant Barnett Waddingham will hold a number of evening and breakfast seminars this month on mortality tables and trends.