Europe

EUROPE/UK - Harmonisation of EU cross-border tax relief on pensions has moved a step closer following a test case at the European Court of Justice, legal experts believe.

FRANCE - France's Socialist Party would oppose the creation of private pension funds if reelected in June's legislative elections, according to the party's manifesto published this week.

UK - Firms are being urged to review their pension scheme contribution rates following the Chancellor's decision to increase National Insurance rates.

UK - Tough guidelines to force fund managers to disclose more information to pension schemes have been agreed.

EUROPE - Fears that the EU might consider proposals limiting pension scheme investment in high-risk assets are unfounded, leaked documents show.

EUROPE - Swiss banking group Julius Baer has a launched a new US Value Stock Fund, aimed primarily at European investors.

UK - Chairman of the National Association of Pension Funds (NAPF) Peter Thompson has hit out at the government for failing to address the decline in retirement savings.

UK - Prudential is set to sell its DB administration business to consulting actuary Hazell Carr in a bid to cut costs, senior industry sources have revealed.

EUROPE/UK -Treasury civil servants want to end funded pensions but are trying to pass the blame on to the EU, a leading consultant claims.

UK - Nearly a quarter of defined benefit schemes in the UK are set to close to new members over the next two years, with 11% set to close outright.