The largest UK mobile group’s defined benefit pension scheme is removing a set allocation to index-linked gilts in favour of absolute return bonds and hedge funds, the latest institutional investor to reset its portfolio in a hunt for value.

HSBC Pension Scheme plans to default members of its defined benefit section into its cash lifestyle fund following the closure of the section in July next year, as it reviews its defined contribution scheme following March's Budget reforms.

Any other business: Going against the grain is not necessarily a bad thing in a trustee; in fact it can be a necessary part of acting in members’ best interests.

NAPF Annual Conference 2014: Warburtons, the UK’s largest bread baker, has this year launched the first of a three-part plan to boost engagement among a new swath of pension savers.

NAPF Annual Conference 2014: Drinks company SABMiller will launch additional savings vehicles after one in five workers opted out of its UK defined contribution scheme, with reductions in tax relief a principal factor.

London Borough of Hillingdon Pension Fund has shifted its equity portfolio away from UK holdings and towards unconstrained strategies, but the move has so far failed to perform.

NAPF Annual Conference 2014: The Australian fund association has called upon UK schemes and providers to ensure the minimum advice they provide equips members to make well-informed decisions with their new retirement flexibilities.

Housing provider Hyde Group has set up a flexible, employee-designed system for scheme members to access their benefits, in a drive to retain and attract talent.

Tyne and Wear Pension Fund has switched to using an absolute return benchmark for its private equity investments in a bid to reduce the relative volatility of returns.