Europe

UK - The £3.65bn Diageo Pension Scheme has successfully opened up its defined benefit plan to temporary, casual and fixed-term employees.

EUROPE - European Actuarial Consulting Services (EURACS) has appointed Danny Wilding, of UK member firm Barnett Waddingham, to replace chairman Dominique Piermay of Fixage in France.

UK - The Association of Consulting Actuaries (ACA) has welcomed the Government's consultation paper on modernising annuities, but said that the public should recognise that the proposed death benefit option should come at "a price".

UK - Pension scheme deficits could be slashed dramatically if FRS17 assumptions were based on current rather than projected salaries, Morgan Stanley claims.

UK - Occupational pension provision needed a boost from Gordon Brown in the Budget but instead, out of view, it received yet another kick in the teeth, according to consulting actuaries Lane Clark & Peacock (LCP).

UK - Investec Asset Management is going all out to boost its pension fund business, according to newly appointed global head of institutional business, Mark Samuelson.

UK/GLOBAL - The Trades Union Congress (TUC) has called on around 100 UK pension funds to back its stance against human rights abuses in Burma.

UK - Supermarket giant Tesco has boosted the pensions of thousands of its workers by launching a career average pension scheme for all its employees.

UK - Former Money Channel head Tony Hobman is taking over from Caroline Instance as chief executive of the Occupational Pensions Regulatory Authority.

UK - The Chancellor has confirmed in his Budget speech that the pensions earnings cap is increased from £95,400 to £97,200 for the tax year 2002-03.