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State Street has set up a $618m (£313m) legal fund following the underperformance of some active fixed-income strategies at its investment management arm.

The Institute of Actuaries has confirmed Nigel Masters as its president elect following a special institute council meeting.

Aegon revamps team

Almost 7000 scientists, engineers and production workers employed on the Trident nuclear warhead project are set to strike over changes to their pension scheme.

More than a third of workers would prefer their firms to offer an alternative to automatic pension contributions, a study by Towers Perrin shows.

Buck Consultants is to host training courses for occupational pension scheme trustees.

More than 75pc of the UK's major listed property companies have converted to real estate investment trust status in the structure's first year.

All benefits and expenses will be included in the payroll for tax purposes if a government proposal is approved.

A PERMANENT Independent Pensions Commission could ensure consensus around long-term goals for the UK pensions system, the Pensions Policy Institute says.

THE PENSIONS BILL 2007 passed its second reading in the House of Commons yesterday following a four-hour parliamentary debate.