United Kingdom

UK - Pensions Commission chairman Adair Turner has defended his proposal for a single national pension scheme, arguing rival multi-provider models carry significant performance risks.

UK - Alexander Forbes Financial Services (AFFS) has been appointed as consultant to marketing firm Added Value's group pension scheme.

UK - Paternoster, Mark Wood's defined benefit buy-out vehicle, is likely to receive Financial Services Authority approval this week, months ahead of schedule.

UK - A £299m shortfall in the Bank of England's pension scheme has forced the fund to review its final salary arrangement and increase contributions over the next 10 years.

UK - Two local authorities are tendering unconstrained global equity briefs together worth £385m.

UK - A Goldman Sachs-led consortium - including the Ontario Municipal Employees Retirement System (OMERS) - has had its £2.8bn offer for Associated British Ports (ABP) accepted.

UK - The Treasury has denied reports that it "raided" pensions for £5bn, which followed a recent order to reveal the forecasts behind its 1997 policy to remove tax credits on share dividends.

UK - The Royal Mail has reportedly come to agreement with its trustees to clear its £5.6bn pension fund deficit over 17 years.

UK - Pension funds could lose money if they follow the traditional passive futures approach to commodity investment, even if prices remain stable, according to Mercer Investment Consulting.

UK - Scottish Widows Investment Partnership CEO Chris Phillips has been appointed chairman of the ABI investment committee.