Europe

NORWAY - The City of Oslo has proposed lending its municipal pension fund NOK1.24bn (US$184.9m) to shore up its funding level.

UK - The Pension Protection Fund deficit could increase as more firms become insolvent, the lifeboat fund admitted today.

FRANCE - A third of French people fear they will not be able to retire before the age of 65, while over half believe they will have to work into their retirement, according to a survey conducted by HR firm Kelly Services.

EUROPE - ETF Securities has announced the launch of Europe's first carbon exchange traded commodity (ETC), to be listed on the London Stock Exchange (LSE).

UK - The combined value of defined contribution pension schemes fell by £157bn (US$242bn) over the past 12 months, Aon Consulting figures show.

UK - Proposed amendments to the Pensions Bill could increase costs for employers by as much as £100m (US$ 154.4m) per year, Hewitt Associates has claimed.

UK - Essex County Council is looking for an active global equity manager to run a mandate worth between £100m and £300m (US$153.7m-$461.2m).

UK - The UK government's proposal to allow people to buy additional National Insurance (NI) contributions for a higher state pension is simply a further rearrangement of the "deckchairs on our sinking state pension system", Ros Altmann warns.

UK - The Pensions Regulator is issuing a statement to trustees of all work-based pension schemes setting out its general position in relation to current market conditions.

UK - Royal Mail has seen its pension scheme deficit increase by more than £1bn over the past six months.