UK - Having already blasted the private equity sector for creating unfunded pension liabilities, the GMB trade union has now slammed changes to capital gains tax rates.

LATIN AMERICA - A Chilean investment fund and a number of Colombian pension funds have bought into a local power plant.

US - The California Public Employees' Retirement System (CalPERS) has urged fellow Sara Lee shareholders to back its resolution pushing for the right to amend company bylaws.

NEWS International has appointed FOUR Capital Partners to manager a £15m specialist UK equity mandate.

INCLUDING: AUSTRALIA - Gabriel departs UniSuper; UK - Citizen advice fund deficit worsened; US - PBGC sorts hospital scheme

AVON Pension Fund has achieved a UK first by being appointed lead plaintiff in a US class action lawsuit against GlaxoSmithKline.

RENTOKIL Initial Pension Trust has awarded a £340m bond mandate to Standard Life Investments.

UK - Alistair Darling, chancellor of the exchequer, released the UK government's Pre-Budget Report yesterday outlining reforms to the state second pension scheme (S2P) and corporate tax allowances for company pensions.

US - Hillary Clinton has unveiled proposals for a new retirement account which would take the best of 401(k) plans and make them available to all Americans to encourage national savings and economic growth.

PERSONAL accounts will not do enough to stem the current decline of occupational pensions, the Association of Consulting Actuaries has said.