Europe

UK - The UK's Pensions Management Institute has elected Roger Cobley as president.

UK - International paper giant Felix Schoeller has axed its UK final salary scheme slashing pension entitlements by up to 60%.

EUROPE - NeoNet, an international agency broker providing electronic equity execution services for the institutional investor industry, has announced Kari Lotsberg and Torkel Segerstedt are nominated members of its board of directors.

UK - Rolls Royce aerospace engineering staff fear the firm will close their final salary scheme unless they agree to major changes in the pension fund.

UK - Ceramics manufacturer Pilkington Tiles is planning to freeze its final salary pension, with some experts fearing the move could indicate the start of a trend among mid-sized firms.

UK - Abbey National For Intermediaries has appointed Mike Brown as head of pensions and retirement.

SPAIN - If a sharp rise in Spanish pension spending between 2015 and 2020 is to be mitigated, a reform that makes the system actuarially neutral cannot be put off any longer, according to the Organisation for Economic Co-operation and Development.

UK - Standard Life has launched an investment planning tool for IFAs - but with the client in mind.

UK - Pensions Investment Research Consultants has highlighted a number of concerns it wants addressed at European Motor Holdings' annual meeting on June 17.

BELGIUM - Belgian corporates are being urged to reassess their pension arrangements in the wake of the so-called Vandenbroucke Law.