Asset Allocation – Page 235
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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 ...
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Features
Positive about equity returns
After three consecutive down years in equity markets, Schroders believes 2003 will be a better one for investors, despite current gloom, and we will look to add to our equity holdings as economic indicators improve. We expect gradual economic growth in 2003, although the pace is likely to be modest. ...
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Features
Compare against clients' goals
One good outcome of the stock market plunge of the last few years is that it has exposed ‘relative’ performance as a misleading indicator of financial health. The consultant who says to his client, “good news, your portfolio did better than the market, now please contribute umpty ump million pounds ...
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Features
All together to save the system
“We must save our pay-as-you-go system, and we must save it together,” declared French Prime Minister, Jean-Pierre Raffarin, in a rousing oratory to France’s economic and social council on February 3. The rhetoric will have been lapped up by the 300,000 plus protesters who had just taken to the streets ...
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Features
Uncertainty overhang holds back investors
Since Graham & Dodd published their paper on Securities Analysis in 1934 and T Rowe Price rejoined with a piece in Barron’s on investing for growth later that decade, the two contrasting styles of growth and value have competed for the high ground in US investment. For a European pension ...
