Europe

UK - Transport giant First Group has set up a career average final salary scheme in a bid to boost staff retention.

UK - Scheme managers and consultants are warning ministers not to tamper with the Local Government Pension Scheme following a "stocktaking" exercise.

EUROPE - Bond specialist Pimco has added eight new funds to its global investors series after growing institutional appetite for specialist pooled funds.

UK - Hewitt Bacon & Woodrow has been appointed investment consultant to Woolworth, Newsquest and Channel 4's pension schemes.

UK - A UK law firm is looking for pension schemes to front a class action against US companies which have been hit by corporate scandals.

UK - Beleaguered investment house Edinburgh Fund Managers has lost one of its largest pension fund clients, the £1.2bn Bank of Scotland Pension Scheme.

EUROPE - Martin Currie, the Edinburgh-based independent investment manager, has expanded its Sicav range in a bid to lure more European institutional investors.

UK - The rate of change from final salary to money purchase pension provision will be highlighted in the fourth JPMorgan Fleming defined contribution survey.

UK - Prime minister Tony Blair has alarmed pensions experts by indicating he plans to "redraw" the welfare state.

UK - Cabinet opposition threatens to scupper tax simplification changes which many industry experts see as a lifeline for beleaguered schemes.