All IPE articles in April 2005 (Online) – Page 2
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ABN Amro names transition management head
EUROPE - ABN Amro has named JP Morgan’s Steve Webster as head of transition management, a new role, amid a push in the area.
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PensionDanmark returns 11% in 2004
DENMARK – The Danish labour market pension fund PensionDanmark says it returned 11% in 2004 and that its reserves are almost four times higher than required by law.
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DNB still unhappy about actuaries’ proposals
NETHERLANDS - The Dutch central bank, which regulates pensions, still isn’t satisfied about the Actuarial Society’s proposals about the independence of actuaries at pension funds and insurers.
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Fiat pension scheme in annuities move
ITALY – The €132.3m pension fund for Fiat’s middle-management, Fondo Pensione Quadri e Capi Fiat, is looking for an established insurance company to provide annuities for its retiring members.
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San Paolo arm names old-age provision head
ITALY – San Paolo IMI’s insurance arm Assicurazioni Internazionali di Previdenza (AIP) has appointed Ras Assicurazioni’s Giuseppe Greco to the new role of managing director to develop its old-age provision business.
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Schemes eye customised indices, providers say
GLOBAL – The demand for tailor-made indices is growing among pension funds keen to keep a close eye on asset managers and find new market opportunities, index providers have told IPE.
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EU warns of misplaced confidence over pensions
EUROPE – Charlie McCreevy, the European Commission’s internal markets commissioner, has warned against “misplaced confidence” in pension provision.
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US teachers invest €493m in French property
FRANCE – US education retirement system TIAA-CREF has bought €493m in French real estate from Standard Life Investments, according to Invesco Real Estate which acted on behalf of the scheme.
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Deloitte Dutch scheme extends Aegon contract
NETHERLANDS – The €400m Dutch pension scheme of consulting firm Deloitte has expanding its deal with Aegon for asset management and reinsurance in response to the new FTK rules.
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Vanstone named head of AXA Rosenberg in Europe
EUROPE – AXA Rosenberg has promoted marketing head Simon Vanstone to European chief executive, replacing Will Jump who is returning to the firm’s US headquarters.
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New UK protection fund and regulator launch
UK – The UK has two new pension bodies as of today, the Pension Protection Fund and the Pensions Regulator - both instituted by the Pensions Act 2004.
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PME ends possibility of taking VUT before age 60
NETHERLANDS - One of the largest Dutch pension funds, the €16bn PME, has stated that it has been forced to end immediately the possibility of taking VUT or TOP before 60.
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Expected returns for Portuguese funds plummet
PORTUGAL – Watson Wyatt says that expected returns for Portuguese pension funds in February plummeted to –0.1%.
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Governance still seen as issue for Dutch schemes
NETHERLANDS – Peter de Koning, a former member of the Tabaksblatt corporate governance committee and current pension manager, says the overall governance of Dutch pension funds could be improved.
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Swiss union in pension call (Correct)
SWITZERLAND - The Swiss federation of trade unions, the largest employee federation in the country, has called for the first pillar pension to be worth CHF3,000 (€1,933) per person (Corrects figure).
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Low rates prompt huge bond move at Philips
NETHERLANDS – The €12.5bn Dutch pension scheme of electronics giant Philips has increased its fixed income exposure in a bid to cut its sensitivity to interest rates.
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ABP to formulate FTK transition policy
NETHERLANDS - Stichting Pensioenfonds ABP, the €168bn scheme for Dutch civil servants, is to formulate a “transitional policy” to deal with the new FTK rules.
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OECD calls for “frank debate” on pensions
GLOBAL – The Organisation for Economic Cooperation and Development says the time has come for some “frank debate” about how the how to meet the costs of ageing.
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PWC pensions partner Shuttleworth dies
UK – John Shuttleworth, a trenchant commentator on the pensions scene in the UK for PricewaterhouseCoopers, has died suddenly aged 47.
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Former Fortis CEO gets €2.4m pension
EUROPE – Anton van Rossum, who quit as chief executive of Fortis last year, has had €2.4m in pension commitments funded by the company.
