Pension buyout solutions which try to avoid regulation by both the pension and insurance industry are "doomed to failure", Paul Thornton has claimed.

IRELAND - The Irish Association of Pension Funds (IAFP) has urged the industry to look long term in light of its 7% or €7bn (US$10.4bn) downturn so far this month.

INCLUDING: NORDIC - Northern Trust strengthens Nordic team; UK - Henderson adds to SRI team; INDIA - Cordea Savills and Nichani Group in joint venture; UK - Barrie and Hibbert head appointed; UK - Mercer establishes South West presence

US - The Colorado Public Employees' Retirement Association (PERA) has reached a US$15.7m settlement with Qwest, a telecommunications company that lost shareholders over $1.6bn by artificially inflating its stock price in 2001.

GLOBAL - A lack of innovation in design and unnecessarily restrictive regulations could be hampering pension funds, according to OECD deputy secretary general, Aart Jan de Geus.

The Personal Accounts Delivery Authority must warn savers that charges may increase over time, Aegon says.

EUROPE - Applying Solvency II legislation to pension funds would be inappropriate and unnecessary, according to speakers at the European Pension Funds Congress in Frankfurt yesterday.

Income drawdown specialist Intelligent Pensions has reported a record 55pc rise in gross revenue from £1.4m to £2.1m.

Private sector workers who are "forced" to retire aged 65 can make age discrimination claims against employers even if current UK law has been followed, a tribunal has ruled.

Resolution agreement