United Kingdom

UK - Workers at insolvent steel manufacturer ASW face cuts to their pensions of up to 90%, a trade union claims.

UK - Legislation should be introduced to force pension schemes to give members a statement of rights, the Occupational Pensions Advisory Service claims.

UK - Trustees are being urged to insure schemes against insolvency of sponsoring companies to guarantee members' pensions.

UK - The top five stocks on the FTSE All-Share are overvalued and have the potential to fall further, Invesco Perpetual warns.

UK - Delays in crediting dividends earned from shares can cost pension schemes substantial sums, software provider Euraplan claims.

UK - Law firm Pinsent Curtis Biddle is to hold a workshop on the pensions ombudsman in London.

UK - Lax rules were to blame for letting disastrously performing technology stocks gain a stock exchange listing, claims a leading fund manager.

UK/US - US independent bond manager Payden & Rygel Global has elected Robin Creswell as a managing principal and Mark Morris as a director based in London.

SCOTLAND - Former employees of the Scottish Transport Group have won an extra £8m of its pension fund surplus after a campaign by the Transport & General Workers' Union (TGWU).

UK - New figures reveal that pension funds have suffered at the hands of equity returns during the first half of 2002.