United Kingdom

UK - Gallaher Pensions has appointed State Street Global Advisors (SSgA) to manage a £50m active UK equity mandate.

UK - The Pension Protection Fund (PPF) will give concessions to companies that make cash injections to reduce their pension deficit as part of a raft of changes made to its risk-based levy.

UK - Aberdeen Asset Management lost a £75m active equity mandate managed by Deutsche Asset Management with the London Borough of Tower Hamlets on the back of a review by the council.

UK - The British Medical Association (BMA) has appointed PIMCO Europe to replace Schroders for 30% of the scheme's total assets.

UK - The London Borough of Brent pension fund is to tender a global equities mandate worth £130m, currently managed by Bank of Ireland Asset Management (BIAM).

UK - WH Smith has hired State Street Global Advisors to manage its £850m pension fund according to the liability driven investment approach.

UK - Hymans Robertson has replaced PSolve as Scottish local authority pension fund, Dumfries & Galloway's consultant. 

UK - A pension scheme backing its liabilities with the recently issued 50 year index linked gilt would require a contribution rate of some 35% of pay to provide a typical final salary benefit, according to consultancy, Hymans Robertson.

UK - State Street Global Advisors (SSgA) has won a £70m passive UK bond mandate from Volkswagen Group Pension Scheme.

UK - British Airways has denied its staff may be asked to increase contributions, accept lower pay outs or take cash incentives or pay rises in return for opting out of its final salary scheme.