UK - Running personal accounts with dynamic investment options at a cost of 0.3% of funds under management - as suggested by the Turner report on pensions - was "unrealistic", according to experts in the industry.

UK - An independent commission has been created by the rail unions and employers to find "alternative means of long-term pension provision" for the £17bn railways pension scheme.

AN INDEPENDENT Railway Pensions Commission has been set up by unions and employers to review the current railways pensions scheme.

The judges have now completed their deliberations on the only category outstanding from last week's shortlist - the Pensions Manager of the Year.

SWITZERLAND - Dexia Asset Management has appointed five independent experts to form an SRI committee focused on helping Dexia develop processes to analyse corporate social responsibility.

CZECH REPUBLIC - The government is set to spend a further CZK 16.9bn (e595m) on pensions as of next year, it was announced yesterday.

Resolution set for M&A; Standard Life success questioned; Hedge fund loss hits pensions; FSA plan to halve sales of pensions

US - Calgon Carbon Corporation is set to freeze its defined benefit pension plans at year end in a move that will save the company US$1m a year.

US - A number of US pension funds have lost millions of dollars after Amaranth Advisors, one of the nation's largest hedge funds, announced it expected losses of over 35%.

EUROPE - Hewitt Associates is eyeing further expansion into European emerging markets, after it formed an alliance with IDE Consulting to offer HR consulting and actuarial services in Turkey.