United Kingdom

UK - National Employment Savings Trust - NEST - has been unveiled as the new brand name for personal accounts.

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

UK - The £16bn (US$25.6bn) Barclays UK Pension Fund has appointed Nick Stacey as associate director in its manager selection team.

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.

UK/US - Aviva has acquired US equity manager River Road Asset Management as it looks to grow its institutional business and expand in the US market.

UK - Defined benefit schemes experienced an increase of more than £170bn (US$275.2bn) in total deficits in 2009, marking the worst year on record, Pension Capital Strategies said.

Consulting giants Towers, Perrin, Forster & Crosby and Watson Wyatt Worldwide came one step closer to completing their merger when shareholders approved the deal at a meeting on Friday, the firms said yesterday.

UK - A special commission has been launched to find a solution to the £1.1trn (US$1.6trn) problem of unfunded liabilities in public sector pensions.

UK - Industry veteran Richard Stroud is to quit as a volunteer adviser with The Pensions Advisory Service, a non-profit organisation that advises on pensions, amid claims of ageism at the department for work and pensions.