Europe

EUROPE/CANADA - The Canada Pension Plan Investment Board (CPPIB) is increasing its focus on investment opportunities in Europe and the UK with the opening of an office in London.

UK - A majority of trustees are bullish about the long term prospects for their pension schemes, with over half (58%) of those currently in deficit believing they will be in surplus in a decade, according to research from Aon Consulting.

UK - The Financial Reporting Council (FRC) has issued two discussion papers aimed at highlighting the need for improving standards across the actuarial industry to allow users of actuarial services to be confident in the information received.

FRANCE - ERAFP, the French public service additional scheme, has announced it is to tender €1.2bn (US$1.88bn) of international equities and investment grade Euro denominated bonds over the next three years.

NORWAY - The NOK3.4bn (US$0.68bn) Aker Pensjonskasse has been forced to halt its plans for further investment in alternatives following the introduction of the Norwegian pension law earlier this year, according to MandateWire.

UK - The Accounting Standards Board (ASB) faced a wall of opposition from the pensions industry at a public meeting to discuss its proposals to overhaul the way pension fund assets and liabilities are calculated and reported.

UK - Scottish Widows has claimed it has had no contact with the company accusing it of giving negligent advice to around a hundred final salary pension schemes.

EUROPE - The UK's National Association of Pension Funds (NAPF) has today endorsed the T-Charter and called for the establishment of a pan-European steering group to further develop the set of principals.

UK - Mike O'Brien, minister for pensions reform, has said the trustees of the personal accounts delivery authority (PADA) are considering offering an ethical investment option for personal accounts to be introduced in 2012.

FRANCE - The European Commission (EC) has launched an investigation into the way France Télécom's pension scheme for state employees was financed following its privatisation in 1997.