United Kingdom

UK - Pensioners will gain on average £400 a year from the Pension Credit Bill when it is introduced in October 2003, the Department for Work and Pensions claims.

UK - Moving from equities into bonds to satisfy FRS17 commitments offers a poor long-term matching of liabilities.

UK - Sun Life Financial of Canada has launched an equity partner group risk cover plan which is applicable for both business partners and employees.

UK - Low paid workers investing in DC schemes should invest in high risk funds rather than lower risk options.

UK - An independent "education service" that enables members of defined contribution schemes to gauge their future retirement income has been launched by Towers Perrin.

UK - The Financial Services Authority has eased the pressure on life insurers to meet regulatory solvency levels by reducing its "resilience" test.

UK - CTC, the specialist financial software and services provider, is promising to cut pension scheme costs by making its Pensions Analysis and Targeting System (PAT) available through the Internet.

UK - Edinburgh Fund Managers has strengthened its specialist funds of funds and manager selection unit, Edinburgh Portfolio, with the appointment of John Livingstone as joint head of managed funds research.

UK - The £775m Worcestershire County Council Pension Fund has released the size of some of its recently announced new mandates.

UK - Bonds will form a third of pension scheme portfolios by 2007, SG Asset Management predicts.