United Kingdom

UK - The £550m (US$1bn) London Borough of Croydon pension fund has placed four separate mandates worth up to £500m out to tender, representing an almost entire restructuring of its portfolio.

UK - Local authority pension funds' non-participation in US securities class actions resulted in over £200m ($365m) being left on the table, according to GOAL Group.

UK - Schemes with liability-driven investment strategies constructed using Lehman Brothers swaps and derivatives will face significant upheaval, industry experts say.

UK - SCA Packaging workers have settled on a pay deal at the expense of their defined benefit (DB) pension scheme.

UK - Total funding deficits increased by £13bn (US$23bn) to £60bn, following the 4% falls on equity markets yesterday, according to estimates by PricewaterhouseCoopers (PWC).

UK - HM Revenue & Customs (HMRC) has issued a note clarifying pension plan rules, bringing the creation of UK-domiciled cross-border pension plans closer to reality, according to Towers Perrin.

US / UK - Investment bank Lehman Brothers has remained silent over the future of its £180m ($322m) defined benefit (DB) pension scheme.

UK - The Pensions Trust has selected Paternoster to secure the benefits of 10,500 members of its Growth Plan.

UK - Not enough defined contribution (DC) pension schemes have carried out regular risk assessments over the last 12 months, Watson Wyatt warns.

UK - Company strategies and policies are undoubtedly being influenced by the top UK pension funds that invest in them, the National Association of Pension Funds (NAPF) has said.