Europe

UK - A growing number of people aged between 50 and 60 are opting to unlock their pensions, Close Wealth Management claims.

SCOTLAND - A Scottish engineering firm has been forced into receivership because of "an insurmountable deficit" in its pension fund.

NETHERLANDS/BELGIUM - Fortis Investment Management (FIM), the Dutch-Belgian financial services firm, posted a 7% decline in first quarter revenues and a 15% drop in net operating profits compared to the same period last year.

UK - Pensioners are destined to live in poverty unless the government takes "drastic action" to rebuild confidence in funded pensions, Tories warn.

UK - Increased corporate bond portfolios will help schemes boost flagging valuations and improve their security.

UK - Employees should be given time off every year to attend financial and retirement planning seminars, Prudential UK urges.

UK - OPRA is planning a major crackdown on employers who fail to offer staff access to a stakeholder pension scheme.

UK - Fund managers have been urged to rebuild investor confidence rather than wait for an equity market rally to solve their problems.

UK - Scottish Pension Trustees has appointed Julia Miller associate director.

UK - Trustees risk being made scapegoats for the pensions crisis and the government's failure to address member security, experts warn.