Europe

UK - The Financial Services Authority's outgoing chairman, Sir Howard Davies, has criticised Sandler's proposed suite of stakeholder products.

UK - Stakeholder pensions in the UK have not been the bonanza for insurance companies that might have been expected.

EUROPE - Asset consulting services have started to overlap with some of the services offered by multi-managers.

UK - The FSA has announced new rates of return and mortality decrements.

UK - British Airways pensioners have attacked the government for scrapping plans to extend the pensions ombudsman's remit.

UK - Watson Wyatt has criticised government proposals to introduce a recovery tax of 33% on people who "over-save" for retirement. The consultant described the measure as "penal".

UK - The Confederation of British Industry is having to lay off staff in a bid to cut pensions costs.

UK - Pension funds should not see corporate bonds as a safe investment with no risk, financial services firm Dennehy Weller warns.

UK - Consultants have overwhelmingly backed FSA moves to clamp down on soft commission costs.

UK - Construction firm Travis Perkins has had to pay £232,000 into its final salary scheme to match a massive pay rise for its chief executive, Frank McKay.