Europe

UK - Schemes that breach Inland Revenue guidelines will not automatically lose their tax privileges under changes being brought in as part of simplification, delegates at a recent conference were told.

UK - Removing limited price indexation for defined contribution schemes could have unintended consequences that will threaten occupational schemes, NAPF chairman Terry Faulkner warns.

UK - Pensions minister Malcolm Wicks has joined the Financial Services Authority's financial capability steering group as part of its efforts to boost financial education among consumers.

UK - Conservative backbencher Adrian Flook has admitted defeat on annuity reform in this parliament after withdrawing his Private Member's Bill.

UK - The equity market recovery slashed £24bn from the pension deficits at FTSE100 companies last year, new research shows.

UK - State Street Global Advisors (SSgA) has appointed Peter Leahy as chief operating officer.

UK - Unions have attacked beleaguered bus manufacturer Mayflower, which has ringfenced a £10m pension pot for directors while workers' benefits look set to be slashed.

UK - The Universities Superannuation Scheme has hired a further two firms to advise on corporate governance and proxy voting issues.

UK - A local authority claims pension scheme resources are being wasted because its investment policy is being targeted by the Campaign Against Arms Trade.

UK - A House of Lords' decision to block an appeal over pension rights by workers made redundant at tractor giant Agco has baffled lawyers.