Europe

UK/US - Treasury officials want to implement US-style pension plans in the UK, Watson Wyatt claims.

UK - HSBC has decided to contract back in to the state second pension.

UK - HSBC has made a one-off payment of £500m into its £6bn final salary scheme as part of a pre-emptive move to plug a growing deficit in the fund.

FRANCE - CDC IXIS Asset Management has appointed Laurent Imbert as head of European and emerging equity.

UK - A council's decision to use property sale receipts to plug its pension fund deficit has ignited a vicious row between councillors.

UK - Socially responsible investment experts are using a £200m air pollution lawsuit against oil giant BP to highlight the importance of pension funds following SRI guidelines.

UK - The UK's biggest pension schemes are shifting assets to hedge funds - and consultants believe smaller schemes are likely to follow suit.

UK - The UK's two largest actuaries - Mercer Investment Consulting and Watson Wyatt - clashed over the merits of pension funds investing in bonds at the latest NAPF Investment Conference.

UK/EUROPE - Fund managers have attacked ratings agencies over the downgrading of companies with pension fund deficits, which they claim has caused bond market volatility.

UK - Aberdeen Property Investors is warning schemes that property returns will drop sharply in 2003 due to falling rents in London and southern England.