Europe

UK - Britain's manufacturers want the government to set a standard retirement age of 65 when it introduces EU legislation on age discrimination in 2006, a joint survey by manufacturers' organisation EEF and Aon Consulting has found.

PORTUGAL - Portuguese pension funds returned 0.8% in October, boosted by strong performance by the European equities portfolio.

UK - Britannic Asset Management has launched its first hedge fund which is targeted primarily at pension scheme clients.

UK - Tighter US controls on hedge funds are set to bolster security for UK pension scheme investors.

UK - IBM scheme members have accused the pensions ombudsman of ‘misinterpreting the law' for rejecting their complaints that the company had stripped their pension benefits.

UK - Industry heavyweights are urging the government to create a permanent pensions commission to advise on pensions policy.

UK - Fund manager Fidelity Investments has made a senior addition to its defined contribution (DC) team with the appointment of Paul Bucksey.

UK - GUS group head of pensions Ros Roberts is being tipped as the next chairman of the National Association of Pension Funds.

UK - Invesco Perpetual is set to sell its bundled defined contribution business and focus on its core fund management business.

NORWAY - Mutual insurer and pension provider the NOK138bn (e16.9bn) KLP has posted a NOK359m (e43.9m) profit for the third quarter of 2004.