United Kingdom

UK - Pension scheme deficits in the FTSE 350 companies have dropped by 29%, from £86bn in 2005 to £61bn in 2006, according to Mercer Human Resource Consulting.

UK - Pension funds returned a "solid, if not spectacular" 10% during 2006, according to a survey by WM Performance Services, the European performance measurement division of State Street Corporation.

UK - The £700m London Borough of Southwark Pension Fund has awarded global equity mandates to Alliance Bernstein and Newton Investment Management.

UK - The release yesterday of the Pension Protection Fund's (PPF's) levy estimate for 2007/2008 has prompted widespread and varied criticism from consultants.

UK - The Pension Protection Fund (PPF) has set its levy estimate for 2007/2008 at £675m - more than double the £324m the fund is expected to collect for 2006/2007.

UK - It is essential the new pension savings scheme proposed by government complement, rather than replace, the current pension provision, the NAPF has claimed.

UK - The Strathclyde Pension Fund has awarded its first unconstrained, long only, global equity mandates to Alliance Bernstein, Edinburgh Partners, Invesco and Lazard.

UK - The Royal County of Berkshire Pension Fund is seeking a specialist manager to take on an £80m to £85m mandate investing in Asia Pacific including Japan.

UK - Robert Jenkins, non-executive chairman of F&C Asset Management, will become the next chairman of the Investment Management Association (IMA), subject to ratification by members.

UK - As announced at the Global Pensions Transition Management Forum 2006, the T-Charter has gone out for general and widespread industry consultation, meeting the Christmas deadline set by key industry figures at the event.