BMI - the UK's third largest airline - could be grounded after pilots voted overwhelmingly in favour of industrial action in a row over pensions and pay.

AUSTRALIA - Paul Costello, CEO of the NZ$9.8bn New Zealand Superannuation fund has resigned to join the Future Fund Management Agency in Melbourne, Australia.

US - Scottish Widows Investment Partnership (SWIP) has doubled its sales presence in the US with the recruitment of Deborah LaBerge as head of US sales - eastern region.

HOUSE of Fraser Pension Scheme trustees have sanctioned the sale of the store chain to consortium Highland after a deal was struck over payments into the fund.

HENDERSON Global Investors saw assets under management fall from from £67.7bn to £63.1bn in the six months to the end of June, its interim results reveal.

ADDING a default annuity option to the government's proposed personal accounts could slash savers' retirement income, GE Life warns.

NEW ZEALAND - Paul Costello, CEO of the NZ$9.8bn New Zealand Superannuation fund has resigned to join the Future Fund Management Agency in Melbourne, Australia.

NETHERLANDS - A pensions umbrella group has told the government the current pension system should be left alone and said they should rather work on clarifying their long term vision for the system.

SCANDINAVIA - Nordic pension funds and other institutional investors are showing increasing demand for alternative assets, according to Standard Life Investments.

MINISTERS will be "complete fools" if they limit the availability of alternatively secured pensions, experts claim.