United Kingdom

UK - The economic downturn has shifted sponsor covenants to the top of the pensions agenda for UK trustees, Aon Consulting says.

UK - The lifeboat fund for pension scheme members under the control of insurance companies is to consult on whether to scrap the 100% guarantee on the first £2000 of benefits.

UK - The Personal Accounts Delivery Authority (PADA) may provide members with access to a panel of annuity providers to simplify the buying process of a retirement product.

UK - Final salary scheme funding jumped back into a £23bn (US$34bn) surplus in November - the largest single monthly improvement on record, Aon Consulting says.

UK - RWC PARTNERS is set to launch a convertible bond fund to take advantage of pricing anomalies in the convertible bond asset class.

UK - Universities Superannuation Scheme has expanded its private equity team with the addition of two private equity analysts, Sweta Chattopadhyay and Tim Tyshing.

UK - Public sector pensions can no longer be afforded in their present state and need to be reformed, the Conservatives say.

UK - The government must give employers access to better pension choices and rethink its strategy to encourage retirement saving, the Association of Consulting Actuaries (ACA) says.

UK - The Pensions Act 2008 has received Royal Assent almost exactly a year after its introduction as a Bill in December 2007.

UK - Watson Wyatt has urged its clients to suspend securities lending activity if they are in any doubt about their lending guidelines and arrangements.