Europe

NORWAY - Bengt Enge, the investment chief at Norges Bank Investment Management (NBIM), has stepped down.

US pension funds have been sorely behind their UK counterparts in terms of addressing funding risk, but it looks like the flurry of activity from across the pond is starting to rub-off.

Spain has used the financial crisis to reform its pensions system, yet fears run high that the changes do not go far enough, writes Toby Lewis

GLOBAL/UK - Fidelity International has appointed Chris McNickle as global head of institutional.

UK - Public sector discount rates should be tied to UK economic growth to reflect future tax revenues needed to fund the scheme, the Pensions Policy Institute says.

UK - Members could end up cross-subsidising those with high pay rises as a result of the "scheme pays" annual allowance option.

UK - PwC has launched a bulk de-risking solution for employers sponsoring defined benefit schemes.

UK - A dispute over whether defined benefit schemes should have to pay VAT on investment management services has been referred to the European Court of Justice.

UK - F&C is considering whether to launch a fiduciary management service in the UK.

UK - The Pension Protection Fund has appointed a further nine asset managers to provide credit investments for the fund.