Europe

UK - Steel giant Caparo has backed down over the closure of its defined benefit pension scheme after workers called a series of strikes.

UK - Pickering's plans could force workers into inferior pensions, two groups of member-trustees warn.

UK - Pension funds should invest in the healthcare sector while it is cheap to do so, Threadneedle Investments claims.

UK/IRELAND - The £1.3bn Associated British Foods Pension Scheme has sold an office investment for £9.1m through Chesterton Property Investment Management.

UK - A new Pensions Act based on the Simplification Report could be on the statute books as early as next year, Alan Pickering believes.

UK - Simplifying pensions could lead to mis-buying, the Chartered Insurance Institute and the Society of Financial Advisers warn.

UK - Britannic Group has called off talks which may have led to a merger partner for the troubled financial services firm.

UK - Mercer Human Resource Consulting has set up a new ‘Organisational Research & Effectiveness Group' in a bid to help companies increase shareholder value.

UK/EUROPE - Alan Pickering's proposal to make scheme membership a condition of employment could breach human rights law, leading pensions lawyers warn.

UK - PIMCO has appointed Peter-Paul Pardi as senior vice-president and head of business development for southern Europe.