Europe

UK - The T&N Retirement Benefit Scheme has agreed a £1.1bn ($1.8bn) buy-in after its funding level was found to exceed the threshold for Pension Protection Fund entry.

UK - Two pensioner groups will challenge the government in the High Court today over its decision to switch to the Consumer Prices Index for up-rating public sector pensions.

UK - Asset-backed pension scheme contributions could exceed £10bn ($16bn)in the next five years, latest research finds.

UK - The Pensions Regulator has warned investors it will take action against firms triggering pre-pack insolvencies to offload pension liabilities from businesses, delegates heard.

FRANCE - The Fonds de reserve pour les retraites' funding ratio fell to 132%, dropping 11 percentage points from June's value due to decreasing interest rates on 10-year bonds.

UK - The government is set to take action over companies offering cash incentives to leave defined benefit pension schemes.

ITALY - BNL/BNP Paribas Employees' Pension Fund has hired State Street Global Advisors to run an €82m ($113m) custom fixed income mandate while the Cariplo Pension Fund renewed a European equity mandate worth $71m.

UK/Europe - The European Commission must make sure it does not "mix apples with oranges" and confuse the insurance industry with pension funds.

UK - Lord Hutton admitted the Labour administration's pension reform package did not go far enough and may have "made matters worse".

UK - The Pensions Protection Fund has widened its selection of transition managers by recruiting nine firms to its panel, but missing from the list was incumbent State Street who the PPF said did not re-bid.