M&S changes scheme in bid to cut costs; FSA could extend rule on short-selling disclosure to all public companies; Hermes delays restructuring

US - The US population will be exposed to increasing retirement risks, as a result of an ongoing transition in the pension landscape, a report by Allianz Global Investors AG (AllianzGI) reveals.

UPDATED clearance and abandonment guidance from The Pensions Regulator has been released which brings it in line with the Pensions Act 2008.

NETHERLANDS - PGGM has hired Kas Bank as custodian for a portion of the European securities portfolio it manages on behalf of Pensioenfonds Zorg en Welzijn (PFZW).

THE trustees of the £1bn Plumbing and Mechanical Services (UK) Limited Pension Scheme have reappointed JPMorgan Investor Services to provide the fund with custodian services.

Henderson Global Investors has hired a five-strong currency team from the investment banking arm of Fortis in a bid to boost its fixed income capability.

THREE investment associations have opposed public disclosure of short selling information.

US - S&P1500 pension plans are carrying a shortfall estimated at US$409bn - a deficit which could force companies to re-evaluate existing provision, Mercer says.

MARKS & SPENCER is set to cap employees' annual increases in pensionable pay and change early retirement benefits in a bid to cut costs.

UK - Marks & Spencer is set to cap employees' annual increases in pensionable pay and change early retirement benefits in a bid to cut costs.