Europe

UK - Workers will close Britain's £27bn savings gaps when they receive their pension forecasts, the government claims.

UK - The £750m Cambridgeshire County Council Pension Fund has appointed UBS Global Asset Management to run a £130m global equities mandate.

EUROPE - A move by the European Commission to tackle tax discrimination against foreign pension funds could mean the end of generous state pensions across Europe.

UK - HSBC Alternative Investments has lured a team from Zurich's Mizuho Bank to set up a new Japanese equity market neutral fund later this year.

UK - Investment specialists have launched a "new kind of consultancy" to help scheme trustees meet Myners recommendations.

UK - Growing pension scheme disillusionment with equities has prompted GMO to market its hedge funds to them for the first time.

UK - The £530m Shropshire County Council Pension Fund is looking for a new manager for a £40m active US equities brief.

UK - Investment managers are being urged to align their bond management products more closely with pension fund liabilities.

GERMANY/EU - Germany is the prime target of action against discriminatory rates of tax on foreign investment funds in Europe, while most EU members continue to block a real single market for funds through differential tax levies.

UK - The average private pension is expected to fall from 32% of average earnings to 25% by 2050, research by PricewaterhouseCoopers claims.