Europe

UK - Statutory money purchase illustrations will shock and confuse members, while driving up scheme costs experts claim.

UK - During the past decade early retirement has increased dramatically, particularly in the public sector, to the extent that it became an expectation in many organisations.

UK - Isis Asset Management has called on fund managers to follow its lead and waive initial charges when schemes reinvest dividends in DC funds.

EUROPE/UK - Northern Trust Global Investments Europe (NTGIE) has appointed Stephen Watson as portfolio manager to its active international equities team in London.

UK - Private equity firm Kohlberg Kravis Roberts & Co has appointed Jacques Garaialde as managing director.

UK - Fund managers offering money purchase plans direct to employees will face a raft of measures to improve the way performance data is used.

UK - Massive industry consolidation will mean that the life and pensions market will be dominated by just four or five players by 2008, research by management consultancy Bain shows.

UK - Pension funds with investments in corporate bonds are to be given a voice on corporate governance and SRI issues.

UK - Workers are being confused by over-inflated pension projections when they join a money-purchase scheme, Aon Consulting claims.

UK - Third-party administrator Paymaster has published its 2003 business control statement which gives a clear guide to its risk management procedures.