AUSTRALIA - The Retail Employees Superannuation Trust (REST) has announced new guidelines and a fee structure to help members as they near retirement.

NETWORK RAIL has launched a career average revalued earnings option for its 34,000 employees.

SWEDEN - The fourth AP fund, AP4, has stepped up its 'change initiative' following disappointing annual returns of 2.4% in 2007.

EUROPE - As pension funds move to better funding positions and look to hedge against duration, experts have seen an increase in demand and ensuing shortage of inflation linked bonds.

THE Somerset County Council Pension Fund has gone out to tender for an active fixed income manager to run a £200m brief.

US - The parent company of Mercer, Marsh & McLennan Companies (MMC), has proposed an overhaul of the governance structure of its board of directors, seeking an end to the three-class structure and forcing all directors to stand for annual re-election...

GLOBAL - Institutional investors launched a climate change action plan at a summit held at the UN yesterday to boost investments in energy efficiency and clean energy technologies.

Pension funds face a shortfall of billions; Standard Life cuts longevity risk through £6.7bn Canada Life deal; Sovereign wealth funds find new private equity bedfellows

US - Most corporate and public pension plans lost ground in Q4 2007, according to the Wilshire Trust Universe Comparison Service (Wilshire TUCS).

Regulations critical to implementing the revamped Local Government Pension Scheme in April will be laid before parliament after a delay of almost 12 months.