United Kingdom

UK - Giving final salary scheme members a breakdown of contributions would be misleading, Mercer Human Resource Consulting claims.

UK - Actuaries have criticised the government for failing to reveal any precise details about how the Pensions Protection Fund will work.

UK - Plans to cut soft commissions and unbundle brokerage fees will increase costs, Baring Asset Management claims.

UK - The Isle of Man's collective fund industry grew by 8% to US$7.04bn for the year ending June 2003 buoyed by sharp growth shown by one of its schemes.

UK/EUROPE/US - US fund managers could face an asset exodus worth several billion dollars from pension funds across Europe as the impact of the US market timing scandal hits the European mutual fund industry, experts warn.

UK - Partnerships will have to overhaul their pension arrangements if the government imposes a £200,000 a year savings limit, accountants warn.

UK - The government is "very likely" to lose the lawsuit filed by unions of former ASW workers (Allied Steel & Wire) over the junking of their final salary scheme, one leading industry expert has warned.

UK - Unions are revamping their trustee training programmes to place more emphasis on socially responsible investment issues.

UK - Bill Lambert has been promoted to the new position of head of middle office at Standard Life Investments following the decision to outsource the firm's administration services to Citigroup.

UK - Wraps will be a part of everyday business for 90% of financial advisers in the next three years, new research shows.