Europe

UK - Second tier pension schemes have distorted private sector provision in the UK and should be abolished, consultant Watson Wyatt claims.

UK - Peter Thompson, chairman of the National Association of Pension Funds (NAPF), has called on Chancellor Gordon Brown to use this week's budget to restore confidence in the UK pensions system.

UK - HSBC Asset Management has strengthened its European equities team with the appointment of Andrew Koch as senior fund manager.

UK - High street electrical giant Dixons is closing its final salary scheme to new members.

UK - Small differences in salary assumptions can have massive FRS17 implications, Towers Perrin warns.

UK - Auditors are to be consulted before the NAPF changes its corporate governance guidelines.

UK - JPMorgan, Merrill Lynch Investment Managers (MLIM) and Schroder Investment Management have all benefited from the £630m Shropshire County Council pension fund's decision to allocate more to overseas equities.

UK - At the Schroders Pension Fund Conference in London yesterday Chris Rodgers, executive director specialist UK equities, told clients that in today's environment UK pensions funds should give careful consideration to having anything up to 50% of their...

UK - Legal & General has welcomed Government proposals on annuity reform, claiming that by seeking to preserve the pooled nature of annuities, the Government is "acting in the best interest of pensioners".

UK - Six people charged with conspiracy to steal nearly £3m from the CW Cheney & Son pension fund appeared before Birmingham Crown Court yesterday.