United Kingdom

UK - Government plans to spend up to £17m this year on promoting the controversial pension credit could be a waste of money, opponents say.

UK - The Pensions Protection Fund needs to safeguard pensions up to £60,000 a year to encourage senior managers to keep schemes open, manufacturing employers claim.

UK - Tax simplification could be derailed by the National Audit Office's report that the £1.4m limit will affect double the government's estimate, Mercer fears.

UK - Balanced managers have lost out in a major strategy switch by the £12bn Royal Bank of Scotland Pension Fund.

UK - Hermes Property Unit Trust has appointed Simon Melliss (pictured) to the Committee of Management.

UK - Funding levels at schemes would be 17% higher if they had adopted strategies to manage downside risk in 1999, a new report claims.

UK - Details of directors' pensions should be included in company annual reports, the Trade Union Congress claims.

UK - Simplification Report author Alan Pickering says that to boost savings, the state pension should be doubled to 40% of average wages and to achieve that, the pension age should be raised from 65 to 68.

UK - Merrill Lynch is to close its final salary scheme and offer staff a flexible benefits package in its place.

UK - Trustees are failing to meet corporate governance best practice standards, an in-depth study shows.