United Kingdom

UK - The BT Pension Scheme shortfall shrank £1.5bn ($2.4bn) in Q4 last year, helped by a £1bn increase in asset values and a £525m deficit payment, according to its quarterly report.

UK - The Pensions Regulator has overhauled its senior management team and their responsibilities to give defined contribution and auto-enrolment greater importance.

US/CANADA - UK risk management firm PensionsFirst has launched a new division to provide advanced risk management services to public and private sector pension plans in North America.

UK/DENMARK - Former Conservative pensions spokesman Nigel Waterson has joined Danish pension fund ATP to help it launch an alternative to the National Employment Savings Trust.

UK - Former Treasury Select Committee chairman Lord McFall will direct an independent inquiry into the failings of the current private pension system, as new figures show there has been the equivalent of one piece of fresh pension legislation every week...

UK/US - Towers Watson has completed its acquisition of consulting and software company EMB.

UK - The trustees of the Pall (UK) Pension Fund have completed a longevity hedge for non-retired members with J.P. Morgan.

UK - The Pension Protection Fund will implement its reworked pension protection levy framework from 2012/13, it announced today.

UK - BT has announced Paul Spencer will become trustee chairman of the £35bn ($56bn) BT Pension Scheme on 1 March.

UK/US - State Street has teamed up with F&C Investments to provide an environmental, social and governance (ESG) reporting service to help investors meet their stewardship goals.