Investment

Tom Stevenson recently retired from his post as Kellogg's pensions manager. Before he left, Sebastian Cheek asked him how the scheme qualified for the NAPF's Pension Quality Mark

ROMANIA - Romania's mandatory pension system returned 17.7% in 2009 while the voluntary system boasted returns of 15.9%, figures by the Romanian Pension Fund Association (APAPR) showed.

US - TCW Group announced it has withdrawn from the government's programme to invest in toxic bank assets following a staff exodus at the bond asset manager.

American asset manager Neuberger Berman has replaced its defined contribution scheme for UK employees with a new group stakeholder arrangement.

UK/US - American asset manager Neuberger Berman has replaced its defined contribution scheme for UK employees with a new group stakeholder arrangement.

The London Borough of Newham Superannuation Fund has appointed Barnett Waddingham to provide it with actuarial and investment strategy consulting services.

A department for work and pensions research report on the likely responses of small employers to personal accounts is not "happy reading", a lawyer warns.

Enrich has launched a pensions service to provide employers with strategic direction for the review, implementation and management of their pension plan.

US - The recovery in equity markets last year helped to improve the funded status of US pension funds, adding an estimated US$180bn to balance sheets, according to a leading pensions' consultancy.

US/UK - PIMCO is reducing its holdings of UK and US government bonds because of fears over increased borrowing and the withdrawal of quantitative easing programmes.