United Kingdom

UK - Local authorities cannot act in isolation in the development of Heywood's administration products, Class Group's annual general meeting heard.

UK - A salary exchange scheme - which enables firms to boost staff pension pots at no extra cost - has been launched by insurance giant Axa.

UK - Trustees do not need court approval to reach compromise deals with employers even if they mean members' benefits will be cut, the ombudsman has decided.

UK - Morgan Stanley Investment Management has been appointed as sub-investment manager to a range of cash products run by Gartmore.

UK - Rail operators will be bidding for franchises with the umbrella pension scheme facing its first ever deficit.

UK - The trial of six people charged with conspiring to steal £2.9m from the Cheney Pension Scheme has been put back to December 9.

UK - Wesleyan Assurance Society is bucking market trends and maintaining an above average equity weighting in its with-profits funds.

UK - Consultants look set to grow their share of the third-party administration market at the expense of smaller specialist rivals, research from Hewitt Bacon & Woodrow shows.

UK - The Pensions Management Institute has celebrated the 2000th person to pass its Trustee Certificate examination.

UK - An appeal from ex-British Army Gurkha pensioners over equal benefits has been dismissed.