UK - Marks & Spencer has conceded that its DB scheme, which is closed to new members, will require increased funding.
The £3.1bn scheme is due for an actuarial evaluation in March 2004, but the company is bringing forward the review because of the deterioration in the value of equities.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.