The June 2006 issue of Pensions World

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COMMENT Trompe l'oeil The picture of pensions can be smudged by professional moaners and the media but it is possible to paint the reality, says Robin Ellison	3
CURRENT EVENTS A summary of news, including: Prescott ponders pensions ACA bags new chairman Kvaerner scheme to ship out?	5 6 12
SURVEY: PENSIONS LAWYERS Keep the ball rolling The legislative load is getting heavier but Swartzenegger-esque pensions lawyers are still running up that hill, says James Thomas.	19
NEW ANNUITY PROVIDERS New kids on the block Could annuity providers be outclassed by a set of young pretenders? Icki Iqbal takes a look at the register and does his homework.	26
COLLECTIVE PENSION SCHEMES In the all together European collective pension schemes may have been stripped bare but they have hidden benefits. Rob ten Wolde reveals the naked truth.	28
DC ADMIN Wizard of Oz! Like the sunshine and surfers, Australia 's super annuation schemes are very attractive. Paul McHardy says Britain should follow our antipodean cousins down that yellow brick road.	31
RISK By the book Scheme management can be a risky business. Simon Butler scours the small print for errors and shows trustees the way to proof read for risk.	34
MULTI-MANAGERS Best to be boring Multi-managers may seem mundane but pension schemes can profit from prudence. Richard Philbin explains his fascination with this sedate sector.	36
LDI Sharp focus LDI looms large in the lens but contrary to popular belief the camera can lie. Richard Dinham zooms in to airbrush over the misconceptions.	38
SURVEY: COMMUNICATIONS Shout out loud Whispering won't do when you are trying to get a complex message across. Allison Plager looks at how employers are making themselves heard about pensions.	40

REGULAR FEATURES Anthony Hilton looks at how managers are cul tivating their hedge funds, Tim Gordon marvels at the unstoppable march of the Pensions Regulator, Sue Ward mounts the merry go round to meet the new Pensions Minister, Robin Ellison warns us not to get the hump as the pensions sands continue to shift, Claire Lancaster gets nostalgic for scheme surpluses and Andy Parker watches management information take off. Courses and seminars Letters In good company Pensions progress Investment Brief Trustee topics Political stage Points of law NAPF update Tax and benefit notes DC debrief Statistics	8 10 13 14 16 44 46 48 51 52 54 56

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