Europe

ITALY - Employees will have the right to transfer contributions accumulated in a pension fund as well as future contributions, Italian pension watchdog COVIP has ruled.

UK - The Marathon Club - a collaboration of investment organisations, representing combined fund assets in excess of £170bn - has updated its practical guidance for trustees with a paper on long term responsible ownership.

UK - The Pension Protection Fund (PPF) has appointed former Noriwch Union director David Heslop as its chief operating officer.

UK - BAE Systems will have to inject more than £500m into its pension schemes this year after its deficit ballooned to £4.2bn, company reports reveal.

EUROPE - The best investment strategy in retirement is to hold a significant proportion of pension assets in equity early on in retirement and to switch progressively to bond holdings and annuities over time, a report commissioned by the European Fund...

UK - The prime minister has ordered a major review of MPs' pension arrangements which could see the defined benefit scheme switched to defined contribution.

UK - The National Association of Pension Funds has updated its corporate governance policy and voting guidelines ahead of the 2009 annual general meeting season.

DENMARK - The DKK39bn (£4.5bn) Industriens Pension, the DKK1.8bn (GBP191m) Pensionskassen for Håndværk og Industri (PHI Pension) and the DKK4.7bn (GBP499m) Pensionskassen for Nærings- og Nydelsesmiddelområdet (PNN Pension) have agreed to merge with an...

EUROPE - The European Parliament industry committee has approved the creation of a pan-European pension fund for researchers.

UK - Three more schemes entered the Pension Protection Fund during last month, resulting in a further 745 people around the UK receiving compensation either now or in the future, the PPF reveals.