All IPE articles in April 2009 (Online) – Page 6
-
NewsOver two-fifths UK workers not 'adequately' saving
[17:00 CEST 14-04] UK – Over 40% of the total UK workforce is failing to make "adequate" provision for retirement, yet almost a fifth claim nothing could persuade them to either start or increase their pension saving, the Association of British Insurers (ABI) has warned.
-
NewsECJ to review Poland's overseas investment limit
POLAND – The European Commission has referred Poland to the European Court of Justice for limiting the amount of money that local pension funds can invest overseas to just 5%, arguing this in turn breaks EC rules concerning the free movement of capital.
-
NewsAviva's buy reduces Russian market to two
[16:25 CEST 14-04] RUSSIA – ING has signed a deal to sell its non-state Russian pension fund business to rival firm Aviva, and in the process reduced the size of the Russian foreign-owned non-corporate pensions market to just two players.
-
NewsDNB 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.
-
NewsShell 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.
-
NewsUnions 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.
-
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.
-
NewsQuantitative 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.
-
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 ...
-
NewsMaltese 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).
-
NewsING 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.
-
NewsPearl 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.
-
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).
-
NewsHoreca 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.
-
NewsCompanies 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.
-
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.
-
NewsTPR 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.
-
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.
-
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.
-
NewsCEIOPS 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.
