GOLDMAN SACHS Asset Management has hired five people to join its European business development, marketing strategy and communications team.

FRANCE - The French pensions reserve fund (FRR) has retained Goldman Sachs for a three year transition broker mandate with a transaction volume of €25bn.

EMPLOYERS are adopting a more relaxed approach to scheme funding arrangements because they regard The Pensions Regulators' powers as "empty threats", claim lawyers.

UK - London councils would save £34m annually if they brought their pension scheme costs down to the levels of UK metropolitan pension schemes, said a report published today by the Audit Commission.

GERMANY - German institutional investors are expected to increase their allocations from 2% of total assets to 2.2% over the next three years, with Asia one of the key beneficiaries, private equity manager Adveq has claimed.

NETHERLANDS - The proposed merger between PME and Mn Services would be the "first step" towards the consolidation of Dutch pension funds PME and PMT, which cover all workers in the metals industry in the Netherlands.

THE LINCOLNSHIRE County Council Pension Fund has completed a investment reshuffle of its £1bn portfolio.

AUSTRALIA - Scott MacDonald has been appointed head and MD for RBC Dexia Investor Services in Australia, taking up the position as of January next year.

US - The Pension Benefit Guaranty Corporation (PBGC) has taken on US$23m in pension liabilities from the Republic Storage Systems' pension fund.

AON CONSULTING has called for a moratorium on pensions legislation in a bid to reduce the risks of damaging schemes with regulatory change.