Europe

UK - Closing defined benefit schemes to new employees does not resolve all of a firm's pension problems, delegates at a Lane, Clark & Peacock seminar declared.

UK - Unions claim workers at chemical giant Rhodia are the first in Britain to strike over the closure of their final salary scheme to new members.

FINLAND - State Street Corporation (STT) has been appointed custodian and fund administrator by Finland's e12bn Local Government Pensions Institution (LGPI).

UK - The Ministry of Defence has denied claims it threatened scientist David Kelly with the loss of his pension when he was reprimanded only weeks before his apparent suicide.

UK - Nearly two-thirds of Britain's biggest firms no longer offer final salary pensions to new members, a survey by Mercer Human Resource Consulting shows.

EUROPE - As continental Europe edges closer to adopting funded pension schemes, unit-linked products are capturing increasing attention, according to a report from Cerulli Associates.

UK - Local authority manager-of-managers pioneer Wiltshire County Council is considering switching its entire £600m fund into the investment vehicle.

UK - People in affluent areas will get less from their pension pot than those in poorer areas under controversial plans being drawn up by Norwich Union.

DENMARK - The Scandinavian Fund Company (Investeringsforeningen Lån og Spar Rationel Invest) has awarded Baring Asset Management (BAM) three new segregated equity mandates.

UK - The Neptune Global Equity Fund has been ranked first out of 161 funds in the Investment Management Association's "global growth sector" over the last 12 months.