If unions continue to champion final salary pensions and the perks of a mature section of the workforce, their membership numbers will continue to fall.

A centre-right think-tank has proposed that a new fund should be set up to pay the pensions of employees in unfunded public sector schemes.

A new office for tax simplification’s remit would be the systematic simplification of the existing tax code.

SEI has sought to make its fiduciary management service more compelling by adding F&C’s responsible engagement overlay (REO) service to all funds.

A consultation on the future of the Parliamentary Contributory Pension Fund has been launched by the Senior Salaries Review Body (SSRB).

Close to one in nine people (86%) across 15 countries have no idea what income they will receive in retirement, according to HSBC Insurance.

Property indices and benchmarking provider IPD has published its first fully fledged global property annual index.

The Warwick International Group Pension Scheme has agreed a buy-in with Pension Insurance Corporation to reduce its exposure to risk.

The aggregate funding position of defined benefit schemes improved last month, according to the Pension Protection Fund (PPF) 7800 Index.

The government is to pay the costs for appealing a test case on how to apportion a deficit to prevent a breach of European Law.

Angela Eagle has succeeded Rosie Winterton to become the 10th pensions minister since Labour came to power in 1997.

Guidance on signing documents electronically when trustees or other parties are unable to attend the same meeting has been issued by the Law Society.

PW asks four industry experts to outline which issues should be tackled first by work and pensions secretary Yvette Cooper and pensions minister Angela Eagle, the new ministers at the Department for Work and Pensions.

Clearly, pension funds and institutional investors who were invested in hedge funds during the past 18 months have been disappointed that performance has, in many cases, fallen way short of the absolute returns promised.

Individuals are going into drawdown when it is not suitable for them, but they do not want to lock themselves into an annuity.

In view of the availability of more sophisticated automation, more in-house capability in companies and a growing urge to ‘own the employee relationship’, one could be forgiven for thinking the demand for benefits administration outsourcing is set to decline.

Governance reviews for trustee boards can benefit schemes and help maximise trustees’ time, says Clive Gilchrist

Would you do this job?: “Wanted: reliable individual for responsible, onerous part-time position. Must have the highest ethical standards (MPs need not apply), and undertake significant ongoing training. No salary or benefits. Unlimited personal responsibility (your home is at risk if you do not keep up your knowledge, and discharge your duties properly).”

The credit crunch has obviously taken its toll on the shares and pensions market, creating uncertainty and anxiety among would-be investors. As a result, those involved in selling or managing pension schemes may be feeling the pinch, so finance becomes a critical focus for directors looking to boost their bottom line. Survival is clearly top of the agenda, but with clever, more efficient financial management, you can also thrive.

Friends Provident has appointed Nicola Nicklin as sales and strategy manager, a new role within its corporate pensions team.

Hermes Fund Managers has hired Saker Nusseibeh to the newly created role of head of investments.

PruPIM has hired Adrian Little as investment management director, focusing on indirect investment opportunities.

Mercer has appointed Jerry Neudegg as principal and head of operational accounting to its outsourcing business.

Abbey has struck a £1bn deal with the trustees of its final salary fund to enable it to improve risk controls at the financial services company.

BlackRock has completed the implementation of the first multinational, multi-scheme fiduciary mandate.

Lawyers predict a wave of equalisation litigation, following the news that Eversheds and Mercer are facing a claim from a UK scheme.