Europe

UK - The government has ruled out raising the pension age despite warnings by business and the Pensions Commission that the move is ‘inevitable'.

UK - The £3.7bn Civil Aviation Authority Pension Scheme has awarded a £70m Europe ex-UK equity brief to investment manager AXA Rosenberg.

SPAIN - Banco Bilbao Vizcaya Gestion (BBVA) has combined with Innovest Strategic Value Advisors to launch the first actively managed sustainability fund in Spain.

UK - Chemical giant ICI wants levies it will pay to the Pension Protection Fund to be cut because it has set up its own safety net.

UK - The government's compensation scheme for workers who lost pension savings when their firms collapsed has been dubbed a "con trick" by a former Downing Street adviser.

DENMARK - The e11bn Pensionskassernes Administration (PKA) has made its first foray into forestry investments though an allocation of US$30m in the asset class.

UK - Government moves which allow trustees to delay scheme valuations should be welcomed but need clarification, First Actuarial has warned.

UK - The majority of UK companies that have closed final salary pensions to new entrants have now also closed them to senior executives, according to new research.

UK - The government has set up a consultation group to look at proposed reforms to the Local Government Pension Scheme.

UK - The government must stop its £5bn a year raid on occupational schemes if it wants to revive the system, employers warn.