Europe

UK - Phased retirement will be an "administrative nightmare" for schemes, consultants warn.

UK - Susan Timbrell has quit the Environment Agency Pension Fund as head of pensions to take up a similar position at the Transport for London scheme.

UK - Individuals given poor investment advice on free standing additional voluntary contributions will receive compensation totalling £250m.

UK - Law firm Wragge & Co is holding a talk by the head of its local government pension division, Terry Crossley.

UK - A controversial decision by the Inland Revenue to tax backdated pension contributions will deter thousands of part-time workers from seeking re-entry into schemes, lawyers claim.

UK - Local council pension schemes are set to invest more in property if limits on limited liability partnerships are increased.

UK - Baring Houston & Saunders is to change its name to ING Real Estate Investment Management from January 27, 2003.

UK - Angie Bryant and Geoff Wilson have been appointed directors of Beckett Financial Services.

UK - Alpha Investment Management's Alpha Composite fund-of-hedge-funds has returned 90% from its inception on November 1995 until October 2002 net of all fees.

UK - Financial statement rules may be amended to clarify pension scheme liabilities.