Disappointing returns from active managers sparked an overhaul of investment strategy at the £9.6bn Strathclyde Pension Fund, delegates heard.

The Nationwide Building Society has revealed a net £508m IAS19 pension deficit, a £177m increase over the year.

Legal & General chief executive Tim Breedon will replace Archie Kane as chairman of the Association of British Insurers in July, the trade association says.

The Queen today confirmed the coalition government will legislate for the phasing out of the default retirement age and set a timetable for raising the state pension age, depending on the outcome of a review.

High street giant Marks & Spencer has confirmed a £1.3bn deficit following its triennial valuation.

George Osborne's announcement that the department for communities and local government will bear £780m in cuts will increase the scrutiny on the affordability of local government pensions, Mike Woodall warns.

The coalition government will scrap the default retirement age "as soon as possible", pensions minister Steve Webb says.

UK - The coalition government will scrap the default retirement age "as soon as possible", pensions minister Steve Webb said.

David Laws was not the only new minister to read a letter from his Labour predecessor as he took office.

British Airways will present plans for a restructure of its defined benefit schemes to The Pensions Regulator next month after it concluded talks with trade unions over its £3.7bn deficit.