United Kingdom

UK - The BBC will close its final salary scheme to new entrants at the end of August, with all new entrants deferred to a new defined benefit career average scheme from 1 September 2006.

UK - Private equity investors are becoming increasingly cautious about investing in companies with defined pension deficits, according to accountancy firm Grant Thornton.

UK - Aberdeen Asset Managers has lost a £70m balanced mandate from Ockham Pension Fund in favour of an absolute return strategy combined with LDI, run by Schroders.

UK - Engine manufacturer Rolls-Royce has said it will pay £500m to offset its pension deficit of nearly £1.3bn, but in return it wants scheme members to accept closure of its final salary pension schemes to new members.

UK - Pension investment policy is being driven by a desperate attempt to avoid risk, exacerbating a funding problem which has been blown-up by well-meaning but flawed regulation and advice, a conference was told.

UK - Specialist fixed income manager BlueBay Asset Management has been appointed by the £15bn Barclays UK pension fund to manage a £195m emerging market debt brief.  

UK - Dermot Keegan has left ABN Amro Investment Management to join Old Mutual Asset Managers (OMAM) as managing director of its institutional business.

UK - Global bond yields have begun to pick up and pension funds have become more solvent in the past three months, which could promote a less risk averse stance, Insight Asset Management has suggested.

UK - SEI and Aegon have lost out on mandates together worth just under £43m at the £60m pension fund for retailer Austin Reed.

UK - The Cass Business School has set out to battle the "pensions crisis" by launching what it says is the world's first ever postgraduate masters programme designed for a career in the pensions industry.