All IPE articles in April 2009 (Online) – Page 3
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NewsGermany needs more private pension - Rürup
[17:15 CEST 07-04] GERMANY – The German pension system should be made up of 60% state pension and 40% private retirement provision, pension expert Bernd Rürup has told a conference in Berlin.
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NewsWednesday people roundup (updated)
[13:30 CEST 08-04] GLOBAL – People roundup: BoAML, PGGM, FME, CP Eaton Partners, Sampo, Hermes BPK, GAD
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NewsUnions to sue gov't over Waterford pension collapse
[14:00 CEST 08-04] IRELAND – Trade unions are preparing to take legal action against the Irish government for failing to protect the pension benefits of employees in insolvent companies, as the Waterford Crystal pension schemes are now being wound-up with a deficit of €110m.
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CEIOPS seeks to solve cross-border IORP conflicts
[16:15 CEST 08-04] EUROPE – The Central European Insurance and Occupational Pensions Supervisors’ body (CEIOPS) has attempted to tackle problems with the ‘Budapest Protocol’ for IORPs cross-border regulation and unveiled proposals explaining how supervisors might communicate concerns over a cross-border pension scheme’s compliance with local rules.
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NewsGreece ordered to raise women’s pension age
GREECE – The European Court of Justice has told the Greek government it must increase the women’s state pensions age for people working in the civil service and military as current rules discriminate in the favour of mothers especially and therefore penalise men.
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NewsAon UK cuts contributions in favour of matching
[16:50 CEST 08-04] UK – Aon UK has confirmed it is reducing the standard rate of employer contributions to its money purchase pension scheme, but will match additional employee contributions up to set levels.
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TPR seeks consultancy for DC review
[16:55 CESt 08-04] UK – The Pensions Regulator (TPR) is seeking a consultant to review the risks surrounding defined contribution (DC) schemes and to propose a new regulatory framework.
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NewsIreland takes uni pensions to boost treasury coffers
[17:00 CEST 08-04] IRELAND – The government has confirmed the assets and liabilities of certain university pension funds and non-commercial state agencies will be transferred to the Exchequer to improve the General Government Balance (GGB) of Ireland.
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Companies need pension guarantees – VFPK
[17:10 CEST 08-04] GERMANY – Pensionskassen in Germany have survived the second major crisis since their implementation but Peter Hadasch, chairman of the association of company Pensionskassen VFPK, believes there is scope for further growth.
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Horeca maintains strategy with small cap appointment
[16:00 CEST 09-04] NETHERLANDS – The €2.5bn Horeca & Catering pension fund is continuing with its asset allocation diversification plan despite a recent further fall in its cover ratio, and has awarded RCM a mandate to manage European small cap equities.
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NewsDeal confirms iShares sale to CVC
[16:25 CEST 09-04] GLOBAL - Barclays Global Investors today confirmed the sale of its iShares exchange traded funds (ETFs) division to CVC Partners at a sale price of $4.4bn (€3.3bn).
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Pearl seeks move away from 'debt-funded' model
[16:55 CEST 09-04] UK – Pearl Group has confirmed it is in advanced discussions with investors and lenders to raise £500m (€554m) in new equity and to restructure its existing capital to allow it take advantage of future acquisition opportunities.
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ING narrows focus in 'back to basics' shift
[16:55 CEST 09-04] GLOBAL – ING, the Netherlands-headquartered banking and insurance group, is forming a single global investment management business and consolidating its operations to in future focus on retail banking and the retirement market.
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NewsNPRF falls to €15.5bn as Q1 returns -6.7%
[17:00 CEST 09-04] IRELAND – The National Pension Reserve Fund (NPRF) has posted a return of -6.7% for the first quarter of 2009, and figures show almost a quarter of the fund's assets are now invested under the direction of the Minister of Finance as part of the bank recapitalisation ...
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Maltese reforms cut 2006 liabilities by €1.6bn
MALTA – Pension reforms introduced in 2006 to raise the state pension age from 61 to 65 between 2014 and 2023 have reduced pension liabilities by €1.6bn, according to figures from the National Statistics Office (NSO).
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Quantitative easing has 'distorted' pension liabilities
[17:00 CEST 09-04] UK – The Bank of England’s policy of quantitative easing has indirectly increased the pension scheme deficits of FTSE 100 companies as the price of gilts “soared to their highest level in 20 years”, Deloitte has claimed.
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NewsAviva ends non-contributory part of DC scheme
[17:05 CEST 09-04] UK – Aviva has confirmed members of its UK defined contribution (DC) scheme will have to start paying a minimum of 1% from July, rising to 2% in April 2010.
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Unions agree to AUA contribution cut
[17:15 CEST 09-04] AUSTRIA – Employee representatives of onboard staff at Austrian Airlines Group (AUA) have consented to a 75% cut in company contributions to their pension fund for one year.
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Shell reduces equities to meet recovery plan
[14:00 CEST 14-04] NETHERLANDS – The Dutch pension fund of Royal Dutch Shell Group is hoping to return its funding ratio to the minimum statutory level of 105% by October 2011, through a series of changes including alterations to its asset allocation.
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DNB pension ups fixed income allocation
[14:30 CEST 14-04] NETHERLANDS - The €880m pension fund of pensions regulator De Nederlandsche Bank has downgraded its investment risks by divesting equity in favour of fixed income investments.
