COMPANIES with defined contribution pension schemes must act now to ensure their default funds are properly diversified, Fidelity International urges.

Policy makers must act now to halt the "pensions pinch" because half the population do not have any retirement savings, the Life Trust Foundation warns.

The former head of corporate risk management at The Pensions Regulator Martine Trouard-Riolle has been appointed as a senior adviser at Penfida.

Small to medium-sized companies should not provide defined benefit pensions because of the risk it brings to the corporate balance sheet, Alexander Forbes says.

A trustee has been ordered to repay his scheme almost £90,000 after both the pensions ombudsman and the High Court found him in breach of trust.

Pensions flip; Norwich Union cut is blow for with-profits; Banks bounce as market cautiously welcomes US plan

GLOBAL - The US$700bn Emergency Economic Stabilization Act, approved by the US Senate last night, fails to address the fundamental economic problems of pension schemes, industry experts have said.

US - The Securities and Exchange Commission (SEC) has extended its ban on short selling until the middle of the month, when the controversial bail-out bill is expected to be passed.

Including: JAPAN - Mitsubishi takes stake in Aberdeen; NORDICS - IAM opens Stockhom office; UK - BNY Mellon appoints head of client relationship; JAPAN - La Salle appoints new client service head; UK - AXA IM strengthens FoHF team; UK - Penfida appoints...

CANADA - The Ontario Teachers' Pension Plan (OTPP) has introduced a change to its cost-of-living allowance, in order to eliminate a C$12.7bn (US$11.9bn) shortfall reported earlier this year.