Europe

Incisive Media editorial services director David Worsfold and Professional Pensions editor Jonathan Stapleton discuss the election results and assess its impact.

UK - Uncertainty surrounding a hung parliament will have a negative effect on scheme investments but could help reduce liabilities, independent consultant Ros Altmann said.

FINLAND - Valtion Elåkerahasto (VER), Finland's state pension fund, gained 5.3% during the first quarter on the back of its equity investment performance.

UK - Scottish Widows Investment Partnership (SWIP) has combined its global developed and global emerging markets desks after six investment directors quit the firm for rival investment manager Martin Currie.

UK - Mercer Investment Management has lured Thames River Capital's Bill Muysken to serve as chief investment officer for alternative alpha strategies, a new position for the firm.

UK - Pension schemes transferred more than £4bn (US$6bn) of liabilities in Q1 making it the highest ever quarter for risk transfer, Hymans Robertson said.

GREECE/GLOBAL - Greece has pledged to undertake a pensions overhaul as part of the structural reforms agreed with its partners in the eurozone and the International Monetary Fund (IMF) in exchange for a €110bn (US$144bn) rescue package.

UK - The Universities Superannuation Scheme (USS) needs switch to a career average structure and increase the normal pension age to 65, the Employers Pensions Forum urged.

UK - Gordon Brown's suggestion the Labour Party would extend its policy to restrict pensions tax relief to include people earning more than £100,000 was a "slip of the tongue", a Labour spokesman says.

ITALY - The speaker for Italian members of Parliament Gianfranco Fini has called for the creation of a pension safety net for corporate and multiemployer schemes to encourage membership into second pillar pensions.