Europe

UK- One in four people aged 55-plus invests in shares as an alternative to their pensions, research from Lincoln Financial Group has revealed.

FINLAND - Tapiola Pension's investment income has dropped to 4.1% during 2007, down from 6.8% in 2006, despite all asset classes performing positively.

UK - Almost nine out of ten defined contribution (DC) scheme experts believe employees look for workplace advice on pensions.

UK - The new secretary of state for work and pensions James Purnell says he will be getting on with the big decisions for the future, following Peter Hain's resignation yesterday.

EUROPE - Defined contribution (DC) pension schemes offer the most appropriate means to create a single European market in pensions, according to a report from the European Fund and Asset Management Association (EFAMA)

UK - Peter Hain has resigned as secretary of state for work and pensions "to clear his name" following a scandal over donations to his deputy leader campaign fund.

FRANCE - Société Générale Group has revealed evidence of an "exceptional" fraud in its Paris operations, amounting to €4.9bn (US$7.2bn) and admitted a further €2bn loss related to sub-prime positions.

UK - The Northern Rock is considering a buyout of its £355m pension scheme and has received quotes from a number of buyout providers.

UK - The National Association of Pension Funds (NAPF) has called generic financial advice (GFA) to be rolled in the workplace ahead of the 2012 introduction of Personal Accounts in response to the interim report on the Thoresen Review of GFA.

EUROPE - Lehman Brothers issued its European Pensions Briefing with a warning schemes should be addressing their solvency levels over the coming year.