Europe

UK - The UK's biggest union, Unison, has blasted current pensions policy, accusing the government of hypocrisy and urging legislation against the raft of scheme closures.

UK - Two separate government reviews will examine the role of non-executive directors and the UK's arrangements for financial reporting and auditing, Trade and Industry secretary Patricia Hewitt announced last night at the Lord Mayor's Mansion House dinner....

UK - The Association of Consulting Actuaries (ACA) is upbeat on the Government's changes to the minimum funding requirement (MFR).

UK - Two major pension funds have rejected hedge funds in favour of private equity.

UK - RBC Global Services, Institutional & Investor Services has been awarded a $2.75bn global custody mandate by Edinburgh Fund Managers.

UK - A number of managers at the £624m Shropshire County Council Pension Fund are to see their mandates slashed as part of a move away from UK equities.

UK - The number of employees in defined benefit schemes has dropped nearly 32% over the last 10 years, with that set to rise due to the recent spate of scheme closures, according to the Trades Union Congress.

UK - Jardine Lloyd Thompson (JLT) has revealed that its £184.8m UK pension scheme has over £50m in liabilities under the controversial accounting standard, FRS17.

UK - Final salary schemes may become even less secure if the government presses ahead with new changes to the minimum funding requirement (MFR), according to consultants William M Mercer.

UK - Accountancy firms have warned that companies are not prepared for the introduction of FRS17.