Europe

EUROPE - Nearly 50% of schemes will invest in hedge funds by 2005, research from investment bank Goldman Sachs and Russell Investment Group claims.

UK - The new UK pensions regulation should introduce compulsory pensions saving, a senior pensions policy advisor has said.

UK - Siemens Building Technologies (SBT) has appointed Gissings to provide full pension services to the Siemens Fire Safety and Security Pension Scheme.

UK - Nearly £350m is being lost in retirement income each year because people are not searching for the best annuity, Close Wealth Management claims.

UK - Unions have lost their battle against the Consumers' Association over plans to close its £45m final salary scheme to new members.

UK - The government's pensions credit could trigger a mis-selling scandal if it is seen as a disincentive to save, MPs warn.

UK - The new pensions regulator is expected to have more powers to detect "early warning signs" and prevent the "dumping of liabilities" on the pensions protection fund (PPF), an OPRA board member has said.

UK - Energy giant BP is to scrap "antiquated employee consultation processes" in a bid to raise the profile of its pension scheme.

UK - Extra money for colleges is being swallowed up by increased pension and national insurance contributions, the Learning and Skills Council claims.

UK - Legal & General is giving new with-profits annuity customers the option to vary the bonus anticipation rate on their policies.