United Kingdom

UK - Trustees of the HBOS Final Salary Pension Scheme (FSPS) have asked a court to delay the takeover of its sponsoring employer by Lloyds TSB.

The move towards mark-to-market accounting and a more short term outlook has long been a thorn in the side of the pensions industry, but what does it mean for the way damage inflicted by the current crisis is playing out in balance sheets? Giovanni Legorano...

UK - GLG Partners is to acquire the Société Générale Asset Management UK, with the transaction expected to close in the second half of Q1 2009.

UK - Defined contribution (DC) schemes will move increasingly to target date funds over the course of 2009, with greater emphasis on member engagement industry experts claim.

GLOBAL - Total exchange traded fund (ETF) assets under management (AuM) have fallen by more than 20% so far this year, but fell less than global markets, according to Barclays Global Investors (BGI).

UK - Another defined benefit pension scheme entered into the Pension Protection Fund (PPF) in November resulting in an additional 402 people receiving compensation.

UK - The Dairy Crest Group Pension Fund has purchased a £150m (US$231m) bulk annuity policy from Legal & General Assurance Society.

UK - Trustees of the Thorn pension fund have completed a £1bn (US$1.5bn) buyout transaction with Pension Insurance Corporation.

UK - FairPensions warned fund management companies are likely to endanger investment performance and alienate clients by cutting teams dedicated to analysing environmental, social and governance (ESG) risks and opportunities.

UK - Administrators for failed high street retailer Woolworths have notified the Pension Protection Fund (PPF) of its collapse and expect member benefits will be rescued.