Prupim, M&G's real estate investment management arm, has agreed to buy a £105.4m residential portfolio from Berkeley Group Holdings, marking a significant foray into UK rented housing by an institutional investor.

The Pensions Regulator's new objective to consider employers' growth prospects is expected to allow struggling companies to cut back on contributions.

The Pensions Regulator will have to take into account the "growth prospects" of employers when considering their pension schemes, Chancellor George Osborne said today.

The Chancellor has announced an updated remit for the Bank of England's monetary policy committee, in a move to boost growth through "monetary activism".

The Church of England has warned clergy they will "likely" face higher diocesan pension contributions following an increase in the scheme deficit at the latest valuation.

Steve Webb has confirmed the government will bring forward the start date for the single-tier state pension to 2016, with a £5.5bn windfall for the Treasury from the early abolition of contracting out.

Royal London has agreed to buy the Co-operative Banking Group's life insurance and asset management businesses in a deal worth up to £219m.

Hannah Brenton looks at the pros and cons

International rules designed to bring transparency to the opaque derivatives market could backfire by imposing heavy costs on pension funds and force them to abandon hedging strategies, the industry's trade body warns.

Chancellor George Osborne is unlikely to give the green light to pension scheme smoothing in the Budget on Wednesday, after the industry and lobby groups rejected the proposals.