United Kingdom

US - Mercer parent company Marsh & McLennan agreed to a US$400m settlement in a class action suit brought against the firm by Ohio and New Jersey pension funds.

UK - The Pension Protection Fund is expected to be fully funded by 2014, its chief executive Alan Rubenstein said.

UK - British Telecom's pension deficit of £6.8bn (US$11.2bn) could affect the wholesale prices charged to its competitors, following a review to be undertaken by Ofcom.

UK - The conversion of the IMG Pension Plan from defined benefit to defined contribution in 1992 was unlawful, the High Court ruled yesterday.

UK - Barclays has reported a one-off credit of £371m (US$620.1m) resulting from the closure of its UK final salary pension scheme to existing members.

UK - The High Court has ruled trustees cannot rely on the safety net afforded by the Pension Protection Fund when taking decisions.

UK - The Pension Protection Fund has published proposals for the 2011/12 pension protection levy year in a bid to improve the way it assesses the insolvency risk for sponsoring employers of pension schemes that pay the levy.

UK - The Universities Superannuation Scheme has bought an industrial park in West London for £110.4m (US$182.3m).

UK - British Airways saw its net pensions deficit increase from £307m (US$509m) to £2.6bn following an interim valuation.

UK/US - Pensions trade bodies in the UK and US have agreed to share information they believe will help them strengthen defined benefit schemes.