UK - The prime minister has ordered a major review of MPs' pension arrangements which could see the defined benefit scheme switched to defined contribution.
The letter - to SSRB chairman Bill Cockburn - asked him to consider a full range of option to cut taxpayers contributions to the Parliamentary Contribution Pension Fund.
These included increases in the pension age, changes to ill-health retirement ground and changes in the rate of accrual.
The move follows a series of calls from organisations and companies for an overhaul of public sector pension arrangements.
In December the Confederation of British Industry called for the "Turner-style" independent commission to investigate the full extent of public sector pension liabilities.
The employers body urged the government to "come clean" about the ballooning cost of unfunded public sector pension provision.
Conservative leader David Cameron said in November, last year, he would switch the scheme to DC if he became prime minister. He also hinted at a wider ranging review of public sector pensions, however, pensions spokesman Nigel Waterson said no detailed plans had been drawn up.
Retirees could benefit from more sustainable income and higher death benefits by including guaranteed income in the asset mix of their portfolios at retirement, according to research by Milliman.
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Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.