Europe

UK - The pensions ombudsman has been told to cap compensation paid to scheme members for "distress" caused by maladministration at £1000.

UK - Updating computer systems to cope with changes outlined in the Pensions Bill will cost large providers up to £30m, a management consultant claims.

UK - Smokers are missing out on increased rate annuities which can boost their retirement income by up to 5%, experts warn.

UK - Employers will be forced to consult with trade unions and staff before making any changes to pension schemes, under a new amendment to the Bill.

UK - ABN Amro has opened shop in Frankfurt in a bid to expand its reach through Europe.

UK - Ensuring staff at BP secured their pension benefits when they transferred to a US firm has won Mercer Human Resource Consulting an award for excellence.

UK - Chris Hylen has joined SEI Investments, a provider of asset management and business outsource solutions.

UK - Former Sea-Land Pension Scheme member Mark Tonge is to become an OPAS adviser, despite having no formal background in pensions.

UK - A bitter war of words has broken out ahead of the legal wrangle between unions and the government over member protection.

UK - Software specialist Marlborough Stirling will help spearhead Royal Liver Assurance's entry into the IFA market.