United Kingdom

SCOTLAND - The £1.6bn Scottish Power Pension Scheme has appointed Northern Trust as its global custodian.

UK - Law firm Trowers & Hamlin is urging Local Government Pension Scheme employers to check staff contracts and budget for any overtime liabilities.

UK - Towers Perrin has promoted three UK senior consultants from its retirement consulting group to the position of principal.

UK - State Street Global Advisors is backing calls for liability benchmarks rather than the current practice of measuring performance against indices.

UK - A guide on record-keeping for trustees of insured occupational pension schemes has been published by OPRA.

UK - British Energy's FRS17 deficit rose eightfold to £352m in the year to the end of March.

UK - Credit Suisse Asset Management is to revamp its management structure.

UK/US - Trustees should look to the US for practical lessons on how to safeguard investments and protect pension fund assets, lawyers claim.

UK - Income lost by delaying annuity payments could take more than a decade to recoup, new research shows.

UK - OPRA has fined the Communication Workers' Friendly Society £720 for failing to make payments into its pension scheme over a period of 12 months.