Europe

UK - Money purchase plans can produce similar benefits to final salary schemes at a much lower cost to employers, Aon Consulting claims.

UK - Firms' pension costs could be slashed by the government's moves to end age discrimination in the workplace, Hewitt Bacon & Woodrow claims.

UK - Britannic Asset Management will release its first "level two" disclosure code statements next month giving trustees client-specific data and transaction cost analysis.

UK - The Conservatives have attacked the government's pension policies after new figures showed only 40% of FTSE350 firms have an open final salary scheme.

UK - Barclays Bank is unveiling a hybrid pensions package for the 24,000 members of its DC scheme and all new employees.

UK - Actuaries are urging the government to revise draft regulations that would give trustees the power to force companies into liquidation.

UK - Orthopaedics firm Smith & Nephew has revealed a deficit of £191m on its final salary pension scheme.

UK - Schemes have been warned against buying shares in the recently floated Yell Group.

UK - James Bowler has been appointed global sector leader for pharmaceuticals and will take over coverage of large cap pan-European pharmaceuticals.

UK - Companies will have to undertake a massive education exercise to ensure members understand that money purchase schemes are not covered by government protection measures, consultants say.