Europe

UK - Marks & Spencer has conceded that its DB scheme, which is closed to new members, will require increased funding.

UK - Merrill Lynch Investment Managers has won a £70m specialist UK equity mandate from mobile phone giant mmO2's pension scheme.

UK - Corporate governance advisers PIRC is targeting the remuneration package for new HSBC board-appointee William Aldinger.

UK - The government is ignoring evidence about the effects of the Inland Revenue's proposed £1.4m lifetime pensions limit because the truth is politically unacceptable, experts claim.

UK - Watson Wyatt is urging schemes to adopt 10-year mandates, in order to lower trading costs and boost returns.

UK - BA has admitted that it will have to increase contributions into its £9bn schemes after watching its pretax FRS17 deficit jump to £1.7bn from £488m last year.

UK - NAPF CONFERENCE: Schemes can give some members "better value" pensions by offering impaired life annuities, Watson Wyatt told delegates.

UK - NAPF CONFERENCE: Imminent radical government reforms are needed to address the UK's pensions crisis rather than just "tinkering" with current legislation, NAPF delegates were told.

UK - UK schemes allow for one day of trustee training per year for every £138m of funds they manage, research from Instinet Europe shows.

UK - Mercer Investment Consulting has become the latest consultant to advise clients on using "liability benchmark" mandates to boost returns.