Advisers – Page 45
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NewsTowers Watson: DC schemes should adopt 'outcome-focused' governance
UK – People with defined contribution (DC) pension schemes tend to be "overly optimistic" about meeting their retirement targets, Towers Watson has said.
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NewsLow Bund yields tax German investors, consultants
GERMANY – Record low Bund yields have very ambivalent effects on German institutional investors, increasing assets and liabilities at the same time, consultancies are pointing out.
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UK roundup: BBC, Interserve, Axa Investment Managers
UK – The BBC’s director general Mark Thompson yesterday admitted that there was ‘anxiety and anger’ over proposed changes to the broadcaster’s pension scheme.
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NewsHymans Robertson, LCP predict surge in pension risk transfer deals
UK – Pension scheme risk transfer deals are likely to surge among FTSE100 companies this year and next, according to consultancies Hymans Robertson and LCP.
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NewsNorthern Trust wins £2bn pension mandate from Babcock International Group
UK – Northern Trust today announced it had been awarded a £2bn (€1.5bn) global custody mandate by Babcock International Group.
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UK Roundup: The Pensions Regulator, ITN, Shropshire
UK – The Pensions Regulator has published new guidance on index-linking to the consumer price index (CPI) that could see pension schemes forced to pay their deficit sooner than previously agreed.
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NewsIslington tenders £200m passive equity and fixed income mandate
UK – Islington Council is seeking an equity and fixed income manager for its £531m pension fund.
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NewsThird of Dutch employers do not see future in DB schemes
NETHERLANDS – A third of Dutch employers do not expect their company's defined benefit (DB) scheme to exist in 10 years, according to a study by PricewaterhouseCoopers (PwC).
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NewsUK Pensions Regulator rejects Uniq funding proposal
UK – The UK Pensions Regulator (TPR) has rejected a funding proposal put forward by food group Uniq to solve its £436m pension deficit.
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NewsPwC sells UK trustee and actuary service to Xafinity
UK – Xafinity Consulting has agreed a deal to acquire the UK trustee and scheme administration business of PricewaterhouseCoopers (PwC) for an undisclosed sum.
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NewsDC members should not be left to make investment decisions
GLOBAL – The growth of defined contribution pensions risks leaving investment decisions to less financially educated scheme members, warns Paul Verdin of Solvay Business School – while providers may be reluctant to provide direction for fear of legal liability.
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Complementa not under suspicion, public prosecutor confirms
SWITZERLAND – In the ongoing scandal over alleged corruption at the Canton of Zurich pension fund (BVK), the fund’s investment controller Complementa has now received confirmation from the public prosecutor that it is not under suspicion.
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NewsSwiss corruption saga continues as media storm gathers over Complementa
SWITZERLAND – The Swiss media has swarmed around yet another player in the ongoing corruption scandal involving the civil servants pension fund for the canton of Zurich (BVK).
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UK RDR changes may deter pension saving
UK – Changes to UK regulation forcing employees to pay for advice and management costs upfront rather than by commission could lead them to opt-out of pension saving once auto-enrolment is introduced, Creative Benefit Solutions has warned.
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Blue Sky to manage Total pension assets
NETHERLANDS – The €250m Dutch pension fund of energy company Total has contracted out its asset management to pensions provider Blue Sky Group.
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NewsUK actuarial bodies agree to merge
UK - The Faculty of Actuaries in Scotland and the Institute of Actuaries are to join together to form the Institute and Faculty of Actuaries after members voted in favour of a resolution supporting the merger.
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IAS 19 proposals would drive down risk appetite – Towers Watson
GERMANY – Proposed changes to the accounting standards for pension benefits (IAS 19) could leave German schemes more risk-averse and increase the implicit costs for insolvency protection PSV, Alfred Gohdes, head of actuarial consulting at Towers Watson in Frankfurt noted.
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Austria needs pension simplification not guarantees, experts warn
AUSTRIA – More guarantees in Austria's second pillar would serve only to complicate the system and fuel public doubts, according to advisory and academic experts.
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UWV scheme eyes Allianz GI as co-ordinating manager
NETHERLANDS - The €3.8bn pension fund of the Dutch employment and benefits agency UWV says it intends to conclude a risk and asset management contract with Allianz Global Investors (AGI). The deal falls short of a full fiduciary mandate.
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Dutch funds too dependent on individual players – Avida
NETHERLANDS - Pension funds are often too dependent on one dominant adviser or asset manager, whose interests are rarely aligned, according to Avida International.
