Less than 3 per cent of pension schemes retendered for investment consulting services last year, compared to 18.6 per cent of schemes in 2008, according to research from selection specialists IC Select. 

It is easy to imagine bunkers in remote corners of England, hatches locked, filled with trustees who are desperate not to hear any more about the General Data Protection Regulation.

The Strathclyde Pension Fund has nearly doubled its investment in emerging markets debt as part of a drive to diversify its portfolio and participate in 'the growth story' of emerging economies.

Analysis: Experts remain divided over the value offered by diversified growth funds. While DGFs offer a source of return that comes with reduced risk and daily pricing, they have come in for criticism in recent years over a perceived lack of performance and value.

Most trustees are perfectly capable of operating beyond the conflicts of interest inherent in fiduciary management, but some small schemes lack resources and support, according to experts.

The majority of smaller stressed defined benefit schemes are likely to end up in the Pension Protection Fund, according to consultancy Barnett Waddingham, as it raised concerns that the Pensions Regulator's new tougher stance may remove vital flexibility from the system.

The Cumbria County Council Pension Fund has joined the ranks of local authorities hedging their equity downside with an equity protection strategy. Nearly £1.1bn of the fund’s equities will be covered by the arrangement.

The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.