Europe

UK - A scheme member has kept the majority of an £83,000 overpayment after arguing that he needed the money to fund an "affluent lifestyle".

UK - Schemes in the UK are reviewing fund managers which have been caught up in the market timing scandal in the US.

UK - Mercer Human Resource Consulting has replaced Watson Wyatt as pensions consultant at Linde Material Handling.

UK - Schemes should turn to currency overlay programmes to boost returns and reduce portfolio risk, ABN-Amro claims.

UK - The Royal Mail Pension Plan has invested £35m in the Mall Fund. Hermes Property Asset Management made the investment on behalf of the £12.8bn scheme.

UK - Union-nominated trustees need to embrace shareholder activism to ensure that pension scheme investments are well-managed, delegates were told.

UK - An Amicus official has been criticised for taking an increase in pension and pay shortly before applying for voluntary redundancy.

UK - The NAPF is to hold a seminar examining the new pensions tax regime outlined by the Treasury.

UK - Credit Suisse Asset Management is forecasting "solid returns" from commercial property market in 2004.

UK - Rules to improve corporate governance may have unintended consequences, Lord Haskins warned.