United Kingdom

UK - The asset management arm of Lloyds TSB group, Scottish Widows Investment Partnership has appointed Peter Zuhorst as the head of Northern Europe.

UK - Around 1000 Co-operative employees have made a formal call for a strike ballot over anger at company plans to close its final salary pension schemes, according to Transport and General Workers' Union (T & G).

UK - Energy company Scottish Power has joined the tide of blue chip companies to announce plans to close their final salary schemes to new members.

UK - A Californian Assembly-man has publicly slated the state's two largest public pension funds for failing to face up to a mounting fiscal crisis.

UK - A quarter of a million UK executives would likely be adversely affected by the A-Day pension changes coming into effect in April, said Bruce Moss, principal at Tillinghast, a division of Towers Perrin.

UK - While 75% of FTSE 100 companies now offer more than five investment options in their defined contribution plans, just 50% of DC members know whether their pension account is invested appropriately.

UK - The FRS17 accounting standard provides a "false degree of comfort" to companies attempting to deal with the funding of their pension schemes, according to James Frazer, head of LEK Consulting's financial services.

UK - The PPF stated 20% of the £575m levy will be raised from all DB occupational pension schemes, regardless of their funding level, and 80% will depend on funding levels of the individual scheme and the risk of insolvency of the employer(s).

UK - Scottish Life's £1.8bn Balanced Managed Pension Fund has increased its property weighting from 1% to almost 15% following a 12-month review.

UK - Up to 1000 members of the Co-operative group (Co-op) may strike against the companies plans to create a career earnings related pensions scheme, according to the T & G, transport and general workers union.