THE aggregate funding position of the 7800 defined benefit schemes monitored by the Pension Protection Fund has improved for the second month running, figures show.

As corporate culture and business structure at asset management firms come under increasing scrutiny, "boutique" seems to have become a byword for best practice. Jenny Blinch reports

UK - The aggregate funding position of pension funds improved by £23.1bn (US$45.6bn) in May but was still down on the same time last year.

SWITZERLAND - The Federal Department of Finance (FDF) has called for speedy policy reform to prevent a trebling of the national debt as the baby boomer generation retires.

GERMANY - The €864m (£679m) German pension protection fund, Pensions-Sicherungs-Verein VVaG, is now 37% funded after receiving €706m, according to MandateWire.

THE Pension Protection Fund has appointed ExactVAL to carry out pension liability calculations.

SOUTH AFRICA - Watson Wyatt has completed its acquisition of a 20% stake in consulting firm Fifth Quadrant, as revealed exclusively by Global Pensions in December ( www.globalpensions.com , 3 December 2007).

Personal accounts a ‘scandal in the making'; Workers fear personal accounts will cost too much; Technology aid for safer pensions landing; Fiduciary management to be introduced in UK

CENTRAL & EASTERN EUROPE - Employee benefits across Central and Eastern European countries are not homogenous, according to new reports published by Watson Wyatt.

UK - The selection of currency managers based on past performance has led to a clash of opinions between a leading consultancy and fund management firm.