United Kingdom

UK - An independent commission has been created by the rail unions and employers to find "alternative means of long-term pension provision" for the £17bn railways pension scheme.

UK - The abuse of inside information within the derivatives market and the lack of insurance confirmations could pose definitive risks to pension funds invested in the space, the Financial Services Authority warned.

UK - Henderson Infrastructure Holdco Limited's (HIH) acquisition of John Laing has received a green light after the construction firm agreed a £886.9m bid.

UK - Niall Paul has been promoted to head of equities at Morley Fund Management following the departure of Tim Thomas - who spent less than a year in the post.

UK - Removing the retirement age, withdrawing means testing and offering financial incentives could be the answer to boost progress on pensions, the Chartered Institute of Personnel Development (CIPD) has claimed.

UK - The £1bn Warwickshire Pension Fund said it was making its first foray into alternatives after it tendered for fund of hedge fund and also property investment management services, worth £50m each.

UK - JPMorgan Asset Management (JPMAM) has appointed Amanda Sillars as investment director, covering institutional and investment trust accounts.

UK - Henderson has refused to comment on media reports it had agreed an £800m takeover for infrastructure projects company John Laing.

UK - Hermes Private Equity (HPE) has acquired Thomas Estates - owner of three large bingo clubs and 24 adult gaming centres for an undisclosed amount.

UK - Mark Wood, founder of Paternoster, said that investors had agreed to contribute a small amount to each of the firm's bidding quotes, allowing it to discount its prices.