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SWITZERLAND - The House of Representatives accepted a proposal today to direct proceeds of CHF7bn (e4.5bn) arising from the sale of national bank gold into the country's state pension scheme, AHV.

GERMANY - The German public remain sceptical about the government's third pillar Riester and Rürup pension schemes, according to a report by Mummert Consulting.

SWITZERLAND - Joachim Suter has joined Pimco as head of institutional business development in Switzerland.

AUSTRIA - Cost pressures have forced the e2bn APK Pensionskasse to abandon plans to award four to five new bond mandates and bring the majority of its e500m fixed income portfolio in-house.

SWITZERLAND - Julius Baer has combined its trading & sales and asset management divisions to form a new Markets unit which will focus more on serving private clients.

GERMANY - Germany faces labour shortages and declines in public finance if workers continue retiring early, an Organisation for Economic Co-operation and Development (OECD) report has argued.

GERMANY - Pharmaceutical giant Bayer has attributed its e1.1bn pension obligation to a sustained period of low interest rates and new accounting standards.

SWITZERLAND - Swiss private bank Lombard Odier Darier Hentsch has closed its London institutional investment operation amid plans to adopt a more global stance.

SWITZERLAND - The average Swiss pension fund portfolio returned 3.9% in the third quarter, according to WM Performance Services.

SWITZERLAND - Extrapolated assets under management of Swiss pensions funds increased by about CHF19.5bn to more than CHF 560bn in the third quarter.