United Kingdom

UK - ABN AMRO Mellon Global Securities has been hired to provide custody and accounting services for the e1.8bn Kvaerner's UK pension arrangements.

UK - Automotive and aerospace manufacturer GKN has blamed rising pension costs for the 8% fall in pre-tax profits.

UK - Employee benefit experts are welcoming regulatory changes for the group risk industry which will "raise the bar of best practice".

UK - Britain's decision to base the Pensions Protection Fund on the US Pension Benefit Guaranty Corporation makes no sense, according to White House advisers.

UK - Societe Generale has built up its pan-European equity research team with the appointment of five senior analysts.

UK - Standard & Poor's, the US rating agency, has unveiled a new service aimed at helping UK trustees assess major risk decisions facing defined benefit schemes.

UK - Pensions advisory service OPAS has appointed Lovells partner Jane Samsworth as chairman.

UK - A law firm, actuary and IFA are linking up to help small firms cut their pension scheme deficits.

UK - California's state treasurer Phil Angelides has called on CalPERS and CalSTERS to pay more attention to environmental corporate governance issues and invest some $500m in the burgeoning environmental technology sector.

UK - Consultants are sceptical over the government's pledge to relax section 67 of the Pension Act 1995.