United Kingdom

UK - The £2.4bn (US$3.9bn) Lothian Pension Fund is set to implement a revised investment strategy after losing 17% over the fiscal year to March 31.

UK/GERMANY - Germany's ban preventing company managers from becoming board members until a two-year waiting period has passed could be detrimental to the country's companies, Hermes warned.

GLOBAL - The average assets to gross domestic product ratio for OECD pension funds dropped from 75.5% of GDP in 2007 to 63.4% in 2008, according to the Organisation for Economic Co-operation and Development.

UK - The Pension Protection Fund is set to become one of the largest pension schemes in the UK in the next five years, Hymans Robertson warned.

UK - Royal Bank of Scotland is to cap future increase in pensionable pay to 2% a year or the rate of inflation, which ever is lower.

UK/IRELAND - The Accounting Standards Board is currently sounding out opinion on proposed changes to accounting standards for UK and Irish companies.

UK - Defined contribution pension funds have returned to the value they were before the recession started in September last year, Aon Consulting figures showed.

UK - Pension Corporation is considering an initial public offering as pension plan deficits soar, a source familiar with the matter confirms.

UK - Union Unite has warned of a "pensions backlash" from thousands of IBM employees over plans to close its final salary pension schemes to future accrual.

UK - The Universities Superannuation Scheme (USS) has paid £1.8m (US$2.9m) in bonuses to its investment staff despite its funding level dropping severely, according to its annual accounts.