United Kingdom

UK - Calculation of the Pension Protection Fund (PPF) levy should be changed so schemes can rely on specific estimates for a number of years, a steering group recommended.

UK/GLOBAL - The Universities Superannuation Scheme (USS) decided to sell its stake in Océ to Canon after the Enterprise Chamber of the Amsterdam Court of Appeals rejected the pension fund's request to investigate Canon's tender offer to buy Océ.

UK - The latest National Association of Pension Funds gathering in Edinburgh found three or four hundred industry veterans in astonishingly good spirits, considering their frankly dire predicament.

UK - JENNA TOWLER talks to pensions minister ANGELA EAGLE about Labour's plans for the pensions landscape - should it retain office.

UK - British Airways' resolution with unions over its £3.7bn (US$5.7bn) deficit is encouraging but will not solve the problem in the long term, industry experts warned.

UK - The Nestlé UK Pension Fund is changing its defined benefit scheme from a final salary to career average.

UK - The expected charging structure for the National Employment Savings Trust (NEST) has been announced by the UK government.

UK - Schemes looking to cut investment costs through the use of pooled funds actually face 30% higher annual manager fees, Lane Clark & Peacock warned.

UK - The Pensions Regulator is appealing a court decision to stop its attempts to seek £2.1bn (US$3.2bn) from Nortel Networks on behalf of the struggling UK pension scheme.

UK - The International Accounting Standards Board (IASB) has confirmed it will no longer allow companies to use the corridor method in their accounting.