Europe

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 - British Polythene Industries is imposing a pay freeze and boosting pension contributions in a bid to stem a spiralling £11m deficit in its scheme.

UK - UK pension deficits could be as high as £100bn for the FTSE100, according to a report published by investment bank Dresdner Kleinwort Wasserstein.

UK - The £1.9bn J. Sainsbury Pension & Death Benefits Scheme has come clean over the poor performance of its assets over the last year.

UK - Schemes looking to cut costs through electronic trading could end up increasing volatility and risk, Frank Russell Company warns.

UK - Government plans for pensions reform have been criticised by a leading economist for lacking an economic overview.

UK - Consultants are urging the Financial Services Authority to give pension funds clearer guidelines on how to communicate with staff.

UK - Unions representing staff at Peugeot's Ryton plant called off industrial action after the car manufacturer put forward a last-minute pay and pensions offer.

UK - A group of Labour MPs has scuppered a Bill aimed at reforming wind-up rules for pension schemes with insolvent employers.

UK/EU - UK Unions have vowed to oppose any move from the government to water down an EU directive that gives agency workers the same pension rights as permanent staff.