United Kingdom

UK - Powys County Council Superannuation Fund has tendered a £13m European property mandate as part of the fund's ongoing restructure following years of low funding and poor returns.

UK - Companies could be forced to abandon their defined contribution schemes entirely should the Pensions Regulator go ahead with its plan to impose regulation on the industry, Aon Consulting has warned.

UK - The governance and safety record of BP is of far more concern than the excessive compensation paid to outgoing CEO John Browne, the London Pensions Fund Authority (LPFA) has claimed.

UK - Hymans Robertson has appointed SRI 'thought leader' Craig Mackenzie to act as a consultant on SRI and related corporate governance issues.

UK - Royal Mail is to close its final salary scheme to new employees, following consultation, and has unveiled plans to fund its £6.6bn pension deficit over 17 years.

UK - Actuarial consultant Lane Clark and Peacock (LCP) is looking to develop a packaged service for pension funds which would transfer all management responsibilities from the trustee board to the consultancy.

UK - Credit Suisse has appointed bfinance's Terry O'Malley as its director and head of UK institutional distribution for asset management.

UK - The National Association of Pension Funds (NAPF) and Trust Associates have joined forces in an effort to help pension fund trustees locate quality investment expertise.

NETHERLANDS - KAS BANK has transferred its private banking activities to Nachenius Tjeenk as part of its strategy to focus on institutional business.

UK - The £3.6bn London Pensions Fund Authority (LPFA) has re-appointed JPMorgan as its global custodian.