Legislation

UK - Public sector final salary schemes should be scrapped and replaced with a career average alternative, the National Association of Pensions Funds says.

SPAIN - Spain's pension overhaul will be "as ambitious" as the government's initial proposal, which included an increase in the retirement age, Prime Minister Jose Luis Rodriguez Zapatero has said.

Public sector final salary schemes should be scrapped and replaced with a career average alternative, the National Association of Pensions Funds says.

Nearly a quarter of UK businesses have not yet considered the implications of auto-enrolment on their schemes, Aon Hewitt research reveals.

US - A lobbyist for the California Public Employees' Retirement System has promised a "major fight" over congressional Republican legislation to force wider disclosures from state and city pension funds.

More than 100 British veterans living abroad have signed a petition against their pensions being frozen and some are threatening to hand back their medals in protest.

The High Court ruling granting trustees ‘super priority' in obligations arising from a financial support direction against insolvent companies "desperately cries out for legislative intervention", lawyers say.

ROMANIA - Romania's Constitutional Court has ruled in favour of the government's pension law, introduced to help the country qualify for emergency IMF funding.

HUNGARY - Hungary's Stabilitas Fund Association has written to the European Commission requesting "immediate help" in fighting the government's pension reform plans.

US - The Department of Labor has obtained a court order against an investment management firm to return more than $1m to the Plumbers and Pipefitters National Pension Plan.