United Kingdom

UK - Pension funds which have hedged out interest rate and inflation risk must now face up to longevity risk, according to a report released today.

UK - Russell has scooped two Watson Wyatt and a Hewitt staffer for its EMEA institutional investment services team.

UK - Nearly two thirds (61%) of trustees on defined contribution (DC) pension fund boards think their members do not know how much their pension is worth, according to Aon Consulting.

UK - The Public Accounts Delivery Authority (PADA) should beware industry reaction to charging structures, according to the Pensions Policy Institute (PPI) and Mercer's response to a call for consultation.

UK - A two day strike at the Grangemouth oil refinery in Scotland has gone ahead after discussions between petrochemical company INEOS and trade union Unite broke down last week.

UK - The Pensions Regulator (TPR) sought to reassure companies it would only retrospectively use its new powers in certain situations and would try to avoid hampering market activity or innovation.

UK - Balanced pooled funds produced their first negative quarterly return since Q2 2006 with the three months to the end of March 2008 making a median -7.9%, according to BNY Mellon Asset Servicing.

The Merseyside Pension Fund in the UK has revamped its asset allocation in order to help it recover from its £1bn deficit (US$1.98bn).

UK - A strike at the Grangemouth oil refinery in Scotland is set to go ahead after discussions between petrochemical company INEOS and trade union Unite broke down yesterday.

UK - The Pensions Regulator (TPR) has set out its goals for the next three years to include strengthening DB scheme funding, improving governance and reducing risk to DC scheme members.