Europe

UK - The total deficit in FTSE 100 pension schemes could add up to more than £100bn due to companies underestimating future life expectancy by between two and four years, according to Pension Capital Strategies (PCS).

EUROPE - The European Commission (EC) has sent letters of formal notice to the Czech Republic, Hungary and Poland for failing to properly transpose a pensions directive on the supervision of institutions for occupational retirement provision.

UK - The London Borough of Newham Pension Fund is tendering an active currency mandate worth between £25-30m.

EUROPE - European Exchange Traded Fund (ETF) managers can effectively compete against their US counterparts in the niche markets, although they would struggle in some of the more mainstream ones.

UK - The news yesterday that the Department for Work and Pensions (DWP) had announced a 10-day consultation period on the new age discrimination regulations has sparked an outcry among industry players.

ITALY - The Italian government's efforts to stimulate the defined contribution (DC) sector by encouraging workers to transfer their final indemnity payments to pension funds could grind to a halt as employees remain unconvinced by the proposed system....

UK - British Airways has agreed to increase the £500m lump sum pension payment and improve annual contributions in a bid to resolve the ongoing pensions dispute with staff.

NETHERLANDS - PME has gone from worst performer among the Dutch pension fund giants in Q2 to beating both PGGM and ABP to top spot in the third quarter.

DENMARK - The DKR38bn (e5.1bn) Industriens Pensionsforsikring is seeking managers to target returns in the active currency space, with an appointment likely early next year.

UK - Industry responses to the Pension Protection Fund's (PPF) Statement of Investment Principles (SIP) have been mixed, with one critic saying that its cautious LDI approach could impact badly on the equity markets.