Europe

UK - Alistair Darling has announced he will restrict higher-rate tax relief on pension contributions for people with incomes over £150,000 (US$217,822) from April 2011.

UK - Tesco has granted the trustees of its UK pension fund contingent property assets worth £500m, after reporting the scheme's deficit has nearly doubled.

EUROPE - Schemes are increasing their allocation to non-traditional asset classes in a bid to manage their risks more effectively, Mercer says.

ITALY - Watson Wyatt has appointed Fabio Carniol as leader of its Italian benefits team.

ITALY - The €300m (£271m) Previmoda has appointed Société Générale Securities Services as its new global custodian with effect from March 1, 2009, MandateWire reports.

UK - Rebuilding confidence in pensions must remain a priority for 2009, the National Association of Pension Funds urges.

UK - A move in this week's Budget to scrap higher rate tax relief on pension contributions would be "entirely wrong" and "a direct attack on middle Britain", the Association of British Insurers says.

EUROPE - The European Parliament (EP) Budgetary Committee has voted against a bailout of the troubled pension scheme for members of the EP (MEP).

UK - The Pension Protection Fund levy paid by companies could vary according to the geographical location of the sponsor, both within and outside the UK, Global Pensions has learned.

US / UK - A class action case brought against Vodafone by investors including the Lothian pension fund, which was initially dismissed over jurisdictional issues, has been reopened by judges in New York.