United Kingdom

UK - GlaxoSmithKline is to make substantial changes to its board of executives following sustained pressure from pension fund investors.

UK - Royal Mail is expected to reveal a £4bn shortfall in its pension fund in its annual report next week.

UK - Young people are no longer relying on the government to provide for their retirement, latest research by Co-Operative Insurance Society shows.

UK - Schroder Investment Management has launched a fund-of-hedge fund, which is designed to achieve high returns under all equity market conditions.

UK - Private equity adviser VenCap International has promoted Tim Cruttenden to director of fund investments.

UK - Local government representatives are calling on the government to address the poor take-up of pensions among low paid local government staff.

UK - The BT Pension Scheme is expected to reveal the largest ever pension fund deficit in UK corporate history next week.

UK - The NAPF has set up a working group in a bid to boost pension provision among smaller employers through multi-employer pension schemes.

UK - Watson Wyatt has attacked proposals from the actuarial profession that schemes should only use bond values to measure fund liabilities.

UK - Retail giant Next Group look set to drop Legal & General Investment Management as the fund manager to its £2m DC scheme.