Defined contribution charges must be "substantially reduced" and members must be made aware about 40pc of their pot is swallowed up in fees, a study says.

Pension risk poses a "clear and present danger" to the health of sponsoring employers, Hewitt Associates warns.

Uncertainty over pension errors; Fury over SNP decision to continue overpaying Scottish public sector pensions; We can't go on paying gold-plated pensions; Pension chief admits 40% goes in fees

Sponsoring companies who have not protected themselves through de-risking face a "pensions Armageddon" in 2009, Towers Perrin warns.

The department for work and pensions has launched a consultation on the impact of age discrimination on employers' flexible retirement policies.

AUSTRALIA - The A$13bn (US$9bn) Sunsuper has selected SunGard to provide bookkeeping and administrative services, as the superannuation fund presses ahead with the in-house integration of its recently purchased outsourced administrator.

CANADA - The Ontario government has proposed a law to give temporary solvency relief to pension funds in the province.

JAPAN - A move by the Japanese government to allow employees to match employer contributions in defined contribution (DC) plans will accelerate the growth of the retirement savings vehicles, according to Towers Perrin.

UK - Another defined benefit pension scheme entered into the Pension Protection Fund (PPF) in November resulting in an additional 402 people receiving compensation.

US - Companies have not done enough to adapt their pension funds to the risks of the current economic climate, Hewitt has warned.