United Kingdom

UK - British American Tobacco has reaffirmed its faith in final salary schemes even though it revealed a massive pensions deficit in its accounts.

UK - More than £3m of pension transfers ended up in secret offshore accounts after being passed through the Brand New Carpet Company scheme.

UK - Three shareholder meetings are of significance in the week beginning May 6, according to corporate governance specialists Institutional Shareholder Services.

UK - Fund managers are predicting short to medium-term stability for investments in the FTSE100 after several years of high volatility.

UK - At least one pension fund trustee of a FTSE 350 company is likely to be sued in the next 12-15 months, according to Deutsche Asset Management chairman Neil Dunford.

UK - The North Yorkshire Police Authority is tendering for a pensions administrator.

UK - A top City fund manager has hit out at press coverage of transaction costs, accusing the media of "whipping a frenzy that they [transactions] are inadequately monitored."

UK - Prudential chairman Sir Roger Hurn is quitting the firm, claiming that corporate governance issues and "market rumours" have forced him to resign before his successor could be named.

UK - Vast differences in the amount local authorities pay for administration and fund management are revealed in new government figures.

UK - PSFM, the financial adviser sister company of consulting actuarial firm Punter Southall, has called on the government to take decisive action to improve the quality of advice given to individuals purchasing annuities as part of its response to the...