All Country Reports – Page 59
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Country Report
UK: Fund in the news
British Airways (BA) completed a £1.3bn (€1.58bn) pension buy-in transaction with Rothesay Life, the insurance entity of Goldman Sachs, in the summer, which will approximately cover 20% of the pensioner liabilities of its Airways Pension Scheme (APS).
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UK: The promise of the future
The regulator, associations and funds themselves are increasingly grappling with the issue of defined contribution pensions, writes Nina Röhrbein
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Country Report
UK: Good pensions now – please!
Adrian Waddingham, founding partner of consulting actuaries Barnett Waddingham, sets out his pension priorities for the new government
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UK: Questions of governance
The regulator, associations and funds themselves are increasingly grappling with the issue of pension fund governance, writes Gill Wadsworth
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UK: Changes to pensions indexation
David Bennett outlines the implications of the UK government’s decision to change the metric for pension benefit indexation. These are not as straightforward as some might have believed
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Country Report
UK: DMGT Pensions DC scheme
Ten years after creating its first trust-based defined contribution (DC) pension scheme, Daily Mail & General Trust plc (DMGT) set up a contract-based DC plan in October 2007. It now has five contract DC plans, covering three divisions and two associated companies.
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UK: Risk…or de-risk
While the market for bulk annuities and partial buy-outs continues to grow, many funds have not even started to hedge interest rate or inflation risk, finds Gill Wadsworth
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UK: Opportunities and challenges
Thinking of recruiting a CIO to your pension fund? Sarah Dudney outlines some of the challenges
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UK: Beyond the contingent
John O'Brien outlines alternatives to pension funding through contingent assets.
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Italy: Fondo Cometa: Activist investor
Fondo Cometa, Italy’s largest pension fund with €5.2bn in assets, is discussing terms to implement its new activist investment strategy for domestic equities. Carlo Svaluto Moreolo reports
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Country Report
Italy: Restrictions, restrictions
When it comes to asset allocation, Italian pension funds remain more restricted than their counterparts in the west of Europe due to the limits of legislation, writes Nina Röhrbein. Italian funds also often have their hands tied by employees who make individual investment choices from a pool of guaranteed and balanced lines the funds are obliged to offer – that is, if they even join a pension fund
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Country Report
Italy: Political machinations
As sovereign debt levels rise, and the cost of borrowing increases, Maria Teresa Cometto reports on the effects of the pension sector on Italian public finances and the political willingness to make the necessary changes
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Country ReportItaly: Caution over reform
The proposal for a €1bn government fund investing in SMEs has re-ignited the debate on pension fund investment limits. Carlo Svaluto Moreolo finds pension fund representatives cautious, but ready to argue the case for reform
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Country ReportSwitzerland: Funding questions
Barbara Ottawa assesses the decision of the Swiss authorities not to force public funds to move to full funding over the coming decades
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Country ReportSwitzerland: Investment decisions in 2009
Pension funds’ investment behaviour has come under heavy criticism from all sides due to the financial crisis, writes Peter Baenziger. Appropriate asset allocation was a major challenge for Swiss pension institutions in 2009
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Switzerland: The BVG generation
The BVG/LPP law of 1985 introduced mandatory workplace pensions in Switzerland.Looking back over the last 25 years, IPE questioned five industry figures
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Switzerland: Doing the splits
Nina Röhrbein looks at how Switzerland is dividing up the AHV/AVS Social Security Fund to avoid what has been described as ‘an unhealthy state of affairs’
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Country Report
Switzerland: The wrong conversion
Barbara Ottawa assesses March’s national referendum on the mandatory conversion rate for Swiss pensions. This political victory for the few might prove detrimental to the many who will now have to pay higher contributions
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Country Report
Greece: Deep structural problems
Reeta Paakkinen examines Greece’s economic woes and the impact of pension reforms. There are signs that the private sector will have to play a greater role in future provision
