EUROPE - EU employment ministers were given a platform to voice their views on the European commission's controversial proposal for the portability of pension rights, which has drawn fierce criticism from some corners.

The Debt Management Office has "no plans" to issue mortality bonds to help kick-start a planned market in longevity risk.

SOUTH AFRICA - More than half of 15-year olds won't live to the claim their pensions due to the rampant HIV/AIDS epidemic in South Africa, a report has found.

US - The fee structure for 401(k) plans must be made more transparent as participants are often left unaware of costs that greatly reduce their total savings, a Government Accountability Office (GAO) report has claimed.

NETHERLANDS - An 11.5% improvement on ABP's coverage ratio has allowed the board to introduce a 2.82% rise in pensions to be paid out in 2007.

GERMANY - Former BNP Paribas Asset Management MD, Axel Grosskreutz, has joined Credit Suisse's Asset Management (CSAM) division to act as its MD and head of the arm in Germany.

ITN UNION members are balloting for strike action over controversial pension proposals.

US - A Chicago think tank has called on Illinois politicians to increase income tax and introduce tax on services to tackle its US$42.4bn pensions hole.

US - Pension fund investment shortfalls has resulted in the city of New York's pension expenditure, which is projected to reach US$5.8bn by fiscal year 2009, quadrupling since the nineties.

The registration process for next year's awards closes today.