Europe

UK - The pensions Green Paper "does not go far enough" in its efforts to simplify pensions in the UK, Scottish Equitable claims.

US/UK - Innovest Strategic Value Advisors has hired Bijan Foroodian as director of quantitative analysis.

UK - The government's proposals for pensions tax simplification "lack clarity and detail", according to Jardine Lloyd Thompson Benefit Solutions.

ITALY - Equity and derivatives exchange, Borsa Italiana, and ratings agency Standard & Poor's, have teamed up to launch the S&P/MIB Index.

UK - Pensions funds are finding it difficult to retain administration staff because of the repetitive nature and inherent pressures of the job, a recruitment consultant claims.

UK - Norwich Union has stressed that the cost of implementing the current proposals would be "substantial".

UK - Schemes are being urged to take greater steps to cut costs.

UK - Credit Suisse's UK life and pensions arm Winterthur Life has appointed Nick Lee to be head of value-added services.

UK/US - Tax relief on pensions contributions for UK employees posted to the US and US employees moving to the UK is now expected to be in force for the tax year 2003/4.

UK - Pension savings by staff in small-to-medium sized firms would grow by £3bn a year if the government changed scheme "opt-out" rules, new research suggests.