United Kingdom

UK - Insurers believe a new tax credit is needed in addition to Pickering's plans if the pensions savings gap is to be closed.

UK - Pickering's proposals will stem the tide of defined benefit closures, both the NAPF and PMI believe.

UK - Pinsent Curtis Biddle has appointed Stephen Scholefield an associate and Pippa Read an assistant solicitor in its new Manchester office.

UK - A new study by HSBC Actuaries and Consultants (HSBC) shows that UK balanced pension fund managers saw a -9.1% slump in average returns during Q2 this year, troubled by stock markets dives.

UK - The London Stock Exchange pension scheme is quitting equities, a move which consultants fear could trigger an exodus from the asset class.

UK - Radical pensions simplification will have to wait until the Inland Revenue completes its review on tax simplification, Alan Pickering admits.

UK - Majedie Asset Management a new fund manager specialising in UK equities for pension funds has been created by former Merrill Lynch Investment Management staff.

UK - Global ratings agency Standard & Poor's is planning to publish credit ratings for UK pension schemes.

UK - Steel giant Caparo has backed down over the closure of its defined benefit pension scheme after workers called a series of strikes.

UK - Pickering's plans could force workers into inferior pensions, two groups of member-trustees warn.