Europe

UK/EUROPE - Private contractors who withheld pensions benefits from ex-NHS (National Health Service) staff will be forced to pay back millions following a landmark ruling in the European Court of Justice (ECJ).

UK - New legislation which will give fixed-term workers the same pension rights as full-time employees is now set for October 1.

UK/EUROPE - Private contractors who withheld pensions benefits from ex-NHS (National Health Service) staff will be forced to pay back millions following a landmark ruling in the European Court of Justice (ECJ).

UK - Investec Asset Management is urging investors to take a more selective approach to stocks over the coming months.

UK - Electrical parts supplier Electrocomponents is considering closing its £170m DB scheme even though it has a healthy FRS17 surplus.

SCOTLAND - The £480m Inverness-based Highland Council Pension Fund has become the latest regional scheme to take the master custodian route with the appointment of Northern Trust (Northern).

UK - Pensions minister Ian McCartney is set to formally launch the Trustee Code of Practice today.

WALES - The £736m Torfaen County Borough Council (Greater Gwent) Pension Fund is likely to start a search for specialist managers by August for briefs totalling around £515m.

UK/EUROPE - Threadneedle Asset Management, part of Zurich Financial Services, has acquired a near 30% stake in multi-manager Attica Asset Management (Attica).

UK - The £1.3bn UK pension fund for Canadian telecoms giant Nortel has finally replaced Jupiter Asset Management with Fidelity Investments.