Europe

UK - New trends in longevity have forced actuaries to reassess mortality patterns, which may have wide ranging consequences for pension policy, an academic has claimed.

UK - Around 10% of private sector workers would be willing to take a pay cut to work in the public sector in order to secure the benefits of a final salary pension scheme, research has found.

UK - The aggregate funding position of pension funds improved by £23.1bn (US$45.6bn) in May but was still down on the same time last year.

UK - The selection of currency managers based on past performance has led to a clash of opinions between a leading consultancy and fund management firm.

DENMARK - PFA Pension plans to increase its direct allocation to hedge funds, following its recent investment worth around DKK135m (US$28.5m).

PORTUGAL - Deutsche Bank is to offer custody and related services to Portuguese pension funds.

UK - The £600m (US$1.1bn) Delta Pension Plan has announced it has transferred the majority of the liabilities of its defined benefit (DB) scheme to the Pension Insurance Corporation (PIC).

UK - Cardiff pension fund has appointed Barclays Global Investors (BGI) as transition manager.

FINLAND - The challenges of an ageing population and rising health costs are posing risks to the long term sustainability of Finland's public finances, the OECD's annual economic survey of the country has warned.

UK - Changes to retirement savings laws due to come into effect in 10 months time could lead to savers facing significant tax penalties, according to Watson Wyatt.