Europe

UK - The confusing nature of UK pensions is damaging competitiveness and could stymie the recovery from recession, top industry figures warned.

UK - Standard Life has been fined £2.45m (US$4.1m) by the Financial Services Authority for serious failures relating to its Pension Sterling Fund.

UK - UBS Investment Bank is to enter the longevity swap market following the hire of a four-strong pensions team, sources said.

NORWAY - Norway's Government Pension Fund Global has shed its NOK13.7bn (US$2.4bn) investment in 17 tobacco producing companies including Philip Morris and British American Tobacco.

UK - The Pensions Regulator has urged scheme trustees to review their securities lending practices.

UK - The number of schemes putting contingent assets in place jumped by 30% to 587 in 2009/10, research from the Pension Protection Fund and The Pensions Regulator revealed.

NORWAY - Officials at Norges Bank Investment Management (NBIM), manager for the Government Pension Fund Global, have written to the Ministry of Finance to defend its use of active management, as the future use of the investment strategy comes under question....

GLOBAL - A coalition of 141 institutional and individual investors has demanded oil giant Shell report on the investment risks associated with its controversial Canadian oil sands project.

UK - A complex legal case concerning the funding of the Pilots National Pension Fund has started in the High Court.

UK - The Local Government Pension Scheme's deficit could swell to £60bn (US$97.8bn) this year if current trends continue, research from the Liberal Democrats revealed.