The Pensions Commission report, upon which the government has pinned so much hope for achieving consensus on pensions reform, has “serious weaknesses and poses significant problems for both the government and the private sector”.

While the nascent individual wrap market is set for growth, with the first phase rollout of Standard Life’s offering at the end of the quarter, the concept of wrap at a corporate level is fast gaining traction.

What disclosures does the government fear by publishing the result of the investigation into the wind-up of the ASW Sheerness pension scheme, asks Andrew Parr

UK pension fund deficits took a sharp turn for the worse in January as low interest rates and strong demand for inflation-linked gilts combined to push the deficit of FTSE 100 companies past £100bn.

Increasing life expectancy and the predicted impact of future pension reform in Europe are combining to make the life insurance sector an attractive investment proposition in its own right.

Capita Hartshead is calling for UK pension schemes to participate in its 13th annual pension scheme administration survey. The questionnaire can be completed up to February 24 at www.2006pensadmin.com

Have you been keeping up to date with the Trustee Masterclass series produced as a joint initiative between PM’s sister title, Pensions Week, and Merrill Lynch Investment Managers (MLIM)?

I was really surprised today to be handed a real scoop for this column. In a real publishing first, I’m able to reveal here in Pensions Management that a large multinational employer is about to announce the opening of a brand new final salary pension scheme for tens of thousands of people in its UK workforce.

PM is launching two new features to provide readers with an opportunity to interrogate senior officials and practitioners within the pensions and investment industry.

Thousands of workers face huge reductions in their pensions as final salary schemes are closed to existing members, while others are being told to double their contributions and some employees are confronted with a higher retirement age.

Overregulation is to blame for companies closing or drastically altering their final salary pension arrangements.

It is rumoured that investment guru Warren Buffet is in talks to back departing Prudential executive Mark Wood in a venture that will buy up company pension schemes. The group will allegedly buy up fully funded schemes, amalgamate them and make money from the economies of scale generated.

HM Revenue & Customs (HMRC) is facing fresh calls to keep the borrowing limit on property investments in personal pensions at 75% of scheme assets, and not reduce it to 50%.

Free-standing additional voluntary contributions (FSAVCs) and executive personal pensions are the most popular products to be dropped from life offices’ portfolios in light of A-day changes.

There is no doubt that we are experiencing an increase in appetite for the ‘at retirement’ market post A-day. Research carried out by Skandia with 200 financial advisers showed that unsecured pension (USP) and alternatively secured pension (ASP) options will be in high demand.

High earners may be sleepwalking into big tax bills on their pensions if they do not act before A-day, industry experts warned.

Anyone born after 5 April 1960 should urgently review their pension arrangements as A-day could dramatically affect future retirement plans.

The 2003 EU Directive on the activities and supervision of institutions for occupational retirement provision, or the IORP Directive for short, has a lot to answer for. Or perhaps it is the way the UK government has interpreted it.

A senior official at the Department for Work and Pensions (DWP) has said that due to Treasury-imposed job cuts at the department, not all the regulations due to be in place for A-day will be finished in time.

It was TS Eliot who wrote:

Emerging market equities were the top performing asset class for 2005, with a median return of 52.8%, according to the CAPS pooled pension fund update, produced by Mellon Analytical Solutions (MAS).

The Association of Property Unit Trusts (APUT) has changed its name to the Association of Real Estate Funds (AREF), in a bid to become the voice of the collective property funds.

According to providers of trustee indemnity insurance (TII), the switch from defined benefit (DB) to defined contribution (DC) schemes will change the nature of claims made against pension schemes by their members.

Different investment tactics are needed to secure an income in approaching retirement and beyond. Colin Maloney suggests one model

John Quarrell demystifies the Sipp, explaining what the product can do for the serious investor despite the best efforts of those who wish to discredit it, and argues against the need for product regulation

Adrian Durham takes Pádraig Floyd through the implementation of one of the UK’s first fully-fledged wrap platforms to be developed from overseas stock, and explains how it will fit into the advisory market in the UK

John Lawson answers this month’s questions (see page 10) regarding tax relief on additional earnings-related contributions such as salary and dividends

Neither required by law, nor even necessary for all pension schemes, nevertheless, for those scheme trustees who are exposed to liabilities, the role TII plays is of vital importance, says Gregor Watt

Trustees and sponsoring employers now appreciate the financial comfort that an appropriately structured insurance policy can provide for those who manage pension schemes. Jonathan Bull reports

The humble TIP may have stayed at the back of the field, lagging behind the higher profile Sipp, but success could be within reach if it can cash in on funds going spare after the Treasury’s sudden U-turn, says Ruth Emery

Mike Morrison elaborates on the advantages to be gained from choosing the TIP as an alternative to investing in residential property and other esoteric options, and its effectiveness in offering a more balanced exposure

With just two months to go until the big day on 6 April, we survey life offices to see how prepared they are for pensions simplification. Ruth Emery reports

Jason Shaw reviews the latest publication which gives guidance as to how the ombudsman will view certain situations, such as member communications and ill-health early retirement

Explaining the new rules which will allow same-sex couples to formally register their relationship was as difficult for Oscar as keeping his mind off the hippos and crocs in the Zambezi River

Trustees have to make sure they have the right monitoring procedures in place as new regulations require closer management of internal controls. Andrew Penketh reports

Recent guidelines permit providers to create funds that apply across Europe, however, specialist help may be required to adhere to different countries’ rules and regulations, says Egon Tibboel

Michelle Cracknell explains why despite the end-of-year cull of alternative investment classes, immediate vesting of personal pensions is not an entirely redundant concept

Michael Taylor predicts an exciting and varied time for the UK’s investment markets in 2006, thanks to a combination of the previous year’s successes and the potential for high growth and yield that lies ahead

This may seem like a bad but predictable start to the year but Billy Burrows sees opportunities

Hewitt Associates has added three new staff to its expanding investment consultancy practice.

Xafinity, formerly the pensions consultancy and service division of Hogg Robinson, has appointed Tim Robinson as chief executive.

Royal London Asset Management (RLAM) has appointed equity manager Leigh Himsworth as mid-cap specialist in the equities team, raising the possibility that the asset manager may launch a new equity fund later this year.

ABN Amro Asset Management has appointed Andrew King as head of Europe, Australasia and Far East (EAFE) portfolio management and head of north American equities.