United Kingdom

UK - Government plans to legislate for more disclosure on executive remuneration may not be effective in curbing boardroom excess, the Association of British Insurers (ABI) has said.

UK - With the median return at -9.7% for 2001, pension funds suffered their second consecutive year of negative returns, according to the latest Russell/Mellon CAPS pooled pension fund update. This is the first time this has happened since 1973/74.

UK - Fund managers do not have a full understanding of transaction related costs, and the ignorance is so widespread that William M Mercer claims "even some large managers may not themselves have a good grasp of the full transaction costs they incur."...

UK - The Actuarial Profession has published on its website an advance draft of both the regulations and the technical memorandum on Statutory Illustrations of Money Purchase Benefits (SIMP).

UK - Two shareholder meetings are of significance in the week beginning March 18, according to corporate governance specialists Institutional Shareholder Services.

UK - Delegates at the Pensions Management Institute's (PMI's) spring conference yesterday were the first to hear about the Retirement Provision Certificate (RPC) - the PMI's new foundation level qualification.

UK - Watson Wyatt has further strengthened its UK-based international group with the arrival of Sharon Bronzwaer, based in London. Bronzwaer has over 25 years of benefits consulting experience, all with Watson Wyatt. During that time, she has consulted...

UK/EUROPE - The Association of British Insurers (ABI) has come out in favour of EU plans for an integrated financial services market, saying that the UK insurance industry is better placed than its European counterparts to benefit from the move.

UK - UNISON, UK's largest union, told IPN that it would not rule out a future meeting with the government over a potential pensions crisis facing many women.

UK - Two large UK companies have reported big losses in their pension schemes under new FRS17 accounting rules.