United Kingdom

UK - Defined contribution scheme members need a "basic understanding of investment" to make suitable choices, Mercer Investment Consulting claims.

UK/NETHERLANDS - The e14bn Bedrijfstakpensioenfonds Metalektro (PME) has hired PIMCO to run a e500m short-term bond mandate.

UK - Five industry experts have been shortlisted for this year's Pensions Management Institute council elections.

UK - Reward managers have the best paid jobs in the personnel profession with salaries around 12% higher than the average salary within the sector, new research shows.

UK - Multi-manager Investment Solutions' assets under management have topped £230m after winning mandates from three closed defined benefit schemes.

UK - Legal and General's group life and pensions business has grown this year despite "sluggish" markets.

UK - Threadneedle Asset Management Limited and MM Asset Management are joining forces to launch a defined contribution pension product.

ITALY/UK - ABN AMRO Mellon has landed a e1bn mandate to custody the non-domestic assets for Banco Desio Investment Management subsidiaries and affiliates.

UK - Firms can slash employee benefit costs by using new software which enables staff to take over a large part of the administration, AMS Services claims.

UK - Insurance giant Norwich Union has blamed employer concerns over regulatory uncertainty for a drop in its corporate pensions business.