US - Defence contractor Lockheed Martin warned 2012 profits could be hurt by unexpectedly high pension costs.
In its third quarter results, the firm said lower discount rates and the delay in the recovery of pension expense under government cost accounting standards has increased the expected pension expense adjustment for 2012 to $925m.
Net sales will be "flattish" in 2012 if the additional pension costs come to fruition and if the government approves, in a timely manner, the proposed 2012 defence budget and continues to support certain programmes.
The firm already contributed $1.3bn to its pensions in the first three quarters of the year.
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.