United Kingdom

UK - The NAPF has defended its corporate governance activism after a study showed pay packages for FTSE100 executives increased 23% last year.

UK - GlaxoSmithKline, the pharmaceuticals giant, has suffered one of the biggest shareholder revolts in British corporate history following the rejection of a 'golden parachute' deal for chief executive Jean-Pierre Garnier.

UK - Long-term mortgages will become a crucial asset class for pension schemes looking for secure income streams, Lane Clark & Peacock claims.

UK - Statutory money purchase illustrations will cause shock and confusion and drive up scheme costs, experts claim.

UK - GR Communications, the specialist financial PR and communication consultancy, has appointed Martyn Hurd as non-executive director.

UK - Tilney Investment Management is looking to make a series of acquisitions to bolster its presence in both the private clients and institutional markets.

UK - Fears have surfaced within The Labour Party over the liquidity of its pension scheme, which holds a "dangerously high" 83% allocation to equities.

UK - Aon Asset Management has appointed State Street as administrator and custodian of its multi-manager fund.

UK - Scottish Widows Investment Partnership has appointed Tim Scholefield head of international research and global sectors.

UK - Royal Liver Assurance has completed a major redesign of its website in a bid to boost the information that it provides IFAs and other customers.