TRUSTEES of defined contribution schemes offering members a "deluge" of investment funds could be failing in their legal duty, Aon Consulting warns.

UK - Current proposals for the UK's national pensions savings scheme (NPSS) fail to address vital issues including fraud and employer insolvency, according to the architect of the Australian mandatory model.

IRELAND - The number of complaints received by the pensions ombudsman in 2005 increased by 30% when compared to the previous year.

UK regulation stays if LSE is bought by US exchange; Aviva cuts 4000 jobs in UK operations; Ashmore announces plans to float on LSE

The department for work and pensions closed its consultation on the pensions White Paper on Monday this week.

US - The California Public Employees' Retirement System will be transferring US$600m from passive equity accounts into its external corporate governance funds after they posted returns that beat the benchmark three-fold.

US - The New York State and Local Retirement System (NYSLRS) will vigorously defend its recognition of Canadian same sex marriages in a law suit calling to halt the practice.

UK - The Greater Manchester Fire and Rescue Authority has issued a tender to streamline the administration of its new pension scheme in conjunction with its previous one.

UK - Specialist currency manager A G Bisset & Company has set up a London based operation as it seeks to follow up on the local authority mandate it won earlier this year.

US - The Ohio Police & Fire fund will be sinking US$25m into real estate and changing its private equity benchmark.