United Kingdom

GLOBAL - Watson Wyatt has restructured its manager research team in a bid to make its global methodology more consistent.

UK - Trustees and employers are being "too reactive" by taking pension scheme buyout off the table as a result of the turbulent market conditions, PricewaterhouseCoopers (PwC) warns.

UK - The Universities Superannuation Scheme (USS) saw £4bn (US$6.5bn) wiped off its value in Q1 as a result of adverse market movements, according to the fund's annual report.

UK - More than 1,000 protestors are expected to lobby the UK parliament today to demand a higher state pension for both today's pensioners and future generations, according to the Trades Union Congress (TUC).

UK - Lehman Brothers UK pension fund has entered the Pension Protection Fund's (PPF) assessment period.

UK - The majority of UK pension schemes have selected emerging Asia as the region with the biggest potential for equity gains over the next 10 years, a study by Baring Asset Management has revealed.

UK - The Merseyside pension fund dipped in value this year by -1.3% to £4.26bn (US$7.5bn), its annual report reveals.

UK - A draft code of conduct setting out how the Pensions Regulator will use powers designed to curb pension scheme abuses has been cautiously welcomed by the industry.

UK - Trustees must respond to the threat of corporate insolvency and should consider their exposure to counterparty risk, Mercer warns.

UK - HM Revenue & Customs will try and block a test case launched by the National Association of Pension Funds and the Wheels Common Investment Fund.