United Kingdom

UK - Prudential has become the latest defined contribution provider to offer scheme members access to multi-manager funds.

UK - Watson Wyatt is celebrating its 125th anniversary.The firm was established in 1878 with Reuben Watson's "pioneering" actuarial work and has grown to become a global consulting specialist.

UK - The Financial Services Authority has fined an IFA £250,000 for "serious inadequacies" in its monitoring and record keeping procedures.

UK- Mercer has been appointed to provide actuarial and investment consulting services for the pension arrangements of Linde Material Handling.

UK - Nearly half of working-age adults do not have any pension arrangements, research by Mintel International shows.

UK - Troubled engineering group Invensys is to sell off subsidiary businesses to help plug its £415m FRS17 pension deficit.

UK - Singer & Friedlander Investment Management has appointed Peter Bodycombe as assistant director and UK equities fund manager.

UK - Legal & General's decision to increase the minimum fund value for individual annuities from £1000 to £5000 has sent shockwaves through the consulting industry.

UK - Companies would retain their final salary schemes if they received tax breaks from the government, new research concludes.

UK - Custody giant JPMorgan Chase has acquired Citicorp Electronic Financial Services for $380m (£221.6m).