Europe

EUROPE - The European Commission has adopted an amended proposal to reduce obstacles to workers' mobility by improved access to and better preservation of supplementary pensions rights.

UK - A majority of people within the pensions industry believe Gordon Brown will proceed with the Turner Commission's proposals, according to a new poll.

UK - Some 88% of UK savers expect to retire before they reach 65, revealing worrying demographic changes that could leave retirees with inadequate assets to fund their twilight years, claims a survey.

UK - Research from Lincoln Retirement Income has revealed that UK property owners place more faith in their homes as a source of retirement income, than their pension plans.

UK - Hermes is set to acquire a 4% stake in Southern Water as part of a consortium including seven Australian superannuation funds which beat off competition from groups led by Goldman Sachs and Morgan Stanley.

UK - State Street Global Markets has confirmed that Lachlan French, a key figure in its transition management team, has left to "pursue other opportunities". He was senior managing director of State Street Global Markets in London.

EUROPE - Europe's asset management industry has experienced a year of successful growth but is struggling to control costs, according to the findings of McKinsey & Company's annual survey on the European asset management industry.

UK - Reports that Delta Two, the Qatari-backed investment group, have earned the support of the trustees of J Sainsbury plc's pension schemes, have been denied.

UK - The National Association of Pension Funds (NAPF) has cited evidence from two new surveys to urge the government to consider deregulating pension fund legislation.

UK - More than a third of UK occupational pension scheme trustees have cited investment decisions as one of their biggest challenges, according to research from Hymans Robertson.