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BRITAIN'S blue-chip firms lost over 1pc of their value in the wake of the Bank of England's surprise decision to increase interest rates by a quarter of a percentage point to 4.75pc.

LOCAL authority pension funds should operate as standalone bodies to make them more accountable and transparent, the Audit Commission claims.

SWITZERLAND - Swiss pension funds increased their average real estate allocation from 12% to 15% over the second quarter, in reaction to weak equity and bonds markets.

LEGAL & GENERAL is developing a "longevity insurance" policy to help schemes hedge the risk of members living longer than expected, PP has learned.

FRIENDS Provident has launched a cautious managed fund for its corporate pension platform.

THE PENSION Protection Fund throws a "slender lifeline" to businesses hoping to escape the full weight of their pension debts, consultants say.

BRITAIN'S top 100 companies contributed £12.1bn into their pension schemes last year, latest research by Lane Clark & Peacock reveals.

LOCAL authority pension funds should operate as standalone bodies to make them more accountable and transparent, the Audit Commission claims.

SIMPLIFICATION has failed to allay scheme concerns over the burden of legislative and bureaucratic compliance, research shows.

BRITISH Airways trustees must be "prudent" but not too cautious over life expectancy assumptions, the board chairman claims.