United Kingdom

UK - Beleaguered insurer Royal & SunAlliance is to sell its group risk business to Canada Life for £60m.

UK - The near-£250m Parliamentary Contributory Pension Fund (PCPF), the UK's pension scheme for Members of Parliament, may be looking at a more specialist investment set-up.

UK - Market volatility has resulted average pension funding levels dropping to 87% from 100%, according to new research from Hewitt Bacon & Woodrow (HB&W).

UK - Law firm DLA Corporate Group has made David Reuben an employee benefits partner.

UK - Pension schemes have broadly welcomed proposals outlined in Alan Pickering's simplification report, but have urged more radical reform, according to data from the National Association of Pension Funds (NAPF).

UK - Local authority schemes are shifting the burden of their fund deficits on to council tax payers in a £500m bill.

UK - The Trades Union Congress remained upbeat despite a unanimous decision by shareholders to approve a controversial pay deal at telecoms giant Vodafone.

UK - Members of the KPMG Staff Pension Scheme are to take legal action to prevent trustees and employers switching their entire funds' assets into gilts.

UK - Logistics and shipping company Exel is set to close its two final salary schemes to new members, despite both being in surplus.

UK - Seven Investment Management is to reduce customer fees charged on Winterthur Life's Universal SIPP fund from 1.5% to 1.4% a year.