UK - Pension funds have recorded the first surplus of 2008 but funding levels are still below last year, according to data released by the Pension Protection Fund (PPF).
The total value of scheme surpluses, £85.9bn (US$167.3bn), while higher than March 2008 levels (£57.7bn) was down from a year ago (£121.1bn).
Overall deficits fell from £81.3bn in March to £55.5bn in April but were significantly higher than 2007 levels of £32.8bn.
The aggregate funding level - total scheme surpluses minus total scheme deficits - rose to £30.3bn from a deficit of £23.6bn at the end of March 2008.
The PPF said the reason for the improved funding position was higher gilt yields caused a 3.4% fall in liabilities while improving equities markets increased the value of scheme assets.
Mercer has also released figures detailing the effects of increased mortality assumptions on FTSE 350 scheme liabilities.
The research showed firms have increased longevity assumptions by an average of half a year over 2007, which equated to an average increase of 2%, or about £8bn.
The research also showed the funding positions of FTSE 350 schemes improved slightly over the first quarter this year, with an aggregate surplus of £14bn compared to a deficit of £14bn at the end of December 2007.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.