Asset Allocation – Page 228
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Features
Spanish pensions buoyant in 2002
The assets under management at Spanish occupational pension schemes rose 12.31% to E21.15bn at the end of 2002, according to figures released by Inverco, the Spanish association of institutional investors and pension funds. The number of occupational pension account holders rose 12.76% to 614,000, while the number of occupational schemes ...
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Features
Putting DC in its place
Iceland has put ‘pure’ DC plans in what it considers to be their place – the third pillar. The government introduced legislation to allow optional personal pensions schemes with individual accounts as part of its Pension Reform Act 1997. The aim was to give further encouragement to private pension provision. ...
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Features
Could TEE be a model for Europe?
Luxembourg only enacted a legal framework for occupational pensions with the law of June 8, 1999. Company pension plans existed long before this law. In the past, companies provided mainly defined benefit (DB) second pillar schemes in book-reserve systems, as in Germany. Book reserve systems were tax-driven: allowances for pension ...
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Features
The fund with an iron grip
The Hoechst Pensionskasse in Frankfurt is not only one of the oldest pension schemes in Germany, but it is also the most influential in shaping both the private and public sectors’ approach to pensions. “Ideas such as a widow’s pension at 60% of the member’s pension, having a qualifying period ...
