Europe

UK - Transport and energy group Alstom UK is closing its final salary scheme to new members - replacing it with a new hybrid scheme that shares risk more evenly with workers.

UK - Hermes Pensions Management is planning to open its £6bn in-house hedge funds to UK pension funds next year.

UK - BMI British Midland is considering making contributions to its staff stakeholder scheme after talks with the Amalgamated Engineering and Electrical Union.

DENMARK - The DKr250bn ATP Pension Fund (Arbejdsmarkedets Tillaegspension) has sealed its first foray into emerging market bonds with two new appointments.

UK - Alan Pickering's Simplification Review has failed to restore consumer confidence in private pension schemes, according to the Association of Chartered Certified Accountants (ACCA).

UK - Companies are not applying for minimum funding requirement extensions because OPRA demands are too stringent, consultants claim.

UK - Unison's calls for local authority pension benefits to be extended to unmarried and same-sex partners have been backed by 200 MPs.

UK - Friends Ivory & Sime chief investment officer Barry Sanjana is to leave the company on July 31.

UK - Pension schemes are set to increase their property investments by 10% over the course of 2002, according to property services firm DTZ.

UK - IFA Hargreaves Lansdown has welcomed proposals to simplify money purchase pensions.