Proposed changes to the Financial Assistance Scheme are too little too late and represent nothing more than "reluctant concessions for political expediency", the Occupational Pensioners Alliance says.

GLOBAL - Hedge funds have bounced back after a see-sawing summer, according to the EDHEC Risk team.

US - Former New York State comptroller Carl McCall is heading a campaign to urge employers to make it easier for workers to enroll in 401(k) plans.

AUSTRALIA - Corporate and public sector funds were still a thriving part of the superannuation market despite many mergers and transferrals to retail outfits, according to Watson Wyatt.

Minister needs a lesson in responsibility

Increasing longevity may not be the biggest problem facing pension schemes, National Association of Pension Funds chairman Chris Hitchen says.

HSBC Actuaries and Consultants has appointed Richard Reid as chief executive officer to take over from Alan Fishman who will retire at the end of the year.

FRANCE - Commuters in Paris and other major French cities were faced with massive disruptions to their journeys today, as the long threatened transport strike over pension reforms finally went ahead.

NETHERLANDS - PGGM and PME have achieved good returns on commodities despite turbulence on financial markets.

The £2.3bn Philips Final Salary Plan is now fully funded following a £400m cash injection from the company and the adoption of a liability-driven investment strategy, the company reports.