Europe

UK - OPRA will be issuing a warning to employers and trustees about the powers of its successor.

UK - Pensions must be separated from politics if confidence in the savings industry is to be restored, Mellon Human Resources & Investor Solutions claims.

UK - Draft regulations for pension tax simplification - released this week by the Inland Revenue - will need industry tuning, Scottish Equitable claims.

UK - The Pension Protection Fund will model its statement of investment principles on three schemes.

UK - Legal & General Investment Management is unveiling a fully bundled defined contribution option for corporate clients.

UK - London Pension Fund Authority chief executive Peter Scales wants council workers to be given a choice over how much they contribute to their pension.

UK - Universities Superannuation Scheme has promoted existing managers Bernie Steventon (pictured) and Brendan Mulkern to the newly created posts of pensions operations manager and pensions policy manager respectively.

UK - The £340m London Borough of Brent Pension Fund is looking to appoint its first hedge fund manager.

UK - Independent pensions expert Ros Altmann has attacked the Financial Services Authority for refusing to accept any responsibility for losses incurred by scheme wind-up victims.

LUXEMBOURG - Luxembourg has abolished its 0.01% subscription tax on multinational companies establishing investment vehicles to pool their cross-border pension assets.