TRUSTEES must be flexible over pension schemes to give companies much needed financial flexibility, KPMG says.

JAPAN - Japanese defined benefit (DB) pension funds are struggling to preserve strong funding ratios, despite having entered the third quarter of 2008 in a relatively strong position, a Greenwich Associates' study has found.

US - Employment-related class action lawsuits look set to increase over the course of the year as a consequence of the recession, while 2008 payouts exceeded US$17bn, according to a report by law firm Seyfarth Shaw.

US - The pension relief bill President George Bush signed in December shaved some US$16bn off potential pension contributions for employers in 2009, but companies still face a staggering $108bn in likely pay-outs, a Watson Wyatt report finds.

US - The Pension Benefit Guarantee Corporation (PBGC) will represent the US government in the event corporate pension plans face troubles caused by losses linked to Madoff's alleged fraud.

A third of workers believe low retirement income will cut life expectancy, however, more than half fear they have not saved enough, a poll reveals.

AROUND a quarter of defined benefit schemes may close for future accrual within the next three years, Watson Wyatt research reveals.

SBJ Benefit Consultants, PIFC, EB Consultants, Orbit Benefits and Thinc have rebranded as Bluefin Advisory Services.

EUROPE - European credit will outperform cash and government bonds in 2009, fund managers claim.

THE aggregate deficit of 7800 defined benefit schemes monitored by the Pension Protection Fund increased by £58.5bn in December.