All IPE articles in August 2009 (Online)
View all stories from this issue.
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NewsUK could face 'inconsistent' legal actions
[13:00 CEST 03-08] UK – Development of a route for tackling shareholder actions has taken an unexpected route in the UK which lawyers claim could be more complicated than a US-style legal-based civil action framework and is likely to create inconsistencies among cases.
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NewsBGI performance adds to Barclays profit
[15:30 CEST 03-08] UK – A "resilient performance" by Barclays Global Investors in the first half of 2009 deliverd a 4% increase to its gross profit to £276m (€324.8m) and helped Barclays to report a profit before tax of around £3bn.
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NewsPPF valuation changes may reduce costs by up to 10%
[15:45 CEST 03-08] UK – Planned changes by the Pension Protection Fund (PPF) to the assumptions used in section 143 and 179 valuations could reduce these liabilities by around 8% for pensioners and 10% for deferred pensioners.
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More Greek reforms needed to alter 'generous' pensions - OECD
GREECE – The Greek government needs to consider yet more reforms to its pensions regime, including a major overall of actuarial calculations used as current projections suggest its public pension payments will account for 24% of GDP in 40 years’ time, suggested a report produced by The Organisation for Economic Cooperation and Development.
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NewsSwiss funds see first gain since 2007 - State Street
[16:15 CEST 03-08] SWITZERLAND – Swiss pensionskassen generated a 5.61% gain during the second quarter of this year, suggests data produced by State Street - the first positive return to be seen for two years.
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Equity gains not enough to offset bond yield changes
[16:30 CEST 03-08] UK – Equity gains in the recent stock market rallies have not been “substantial” enough to offset falls in corporate bond yields, Aon Consulting has warned, and the result for the 200-largest defined benefit (DB) schemes was an aggregated deficit of £72.8bn (€85.7bn) by the end of July.
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NewsInvestors slam Myners' two-tier shareholder plan
[16:45 CEST 03-08] UK – Investors and bodies representing pension funds have criticised a proposal by UK City minister Lord Myners to boost investor engagement by creating a ‘two-tier’ shareholder regime.
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NewsAIFM could cost pension funds €25bn a year
[15:30 CEST 04-08] GLOBAL – The Alternative Investment Fund Managers (AIFM) Directive could cost European pension funds €25bn a year through charges and lower investment returns if is implemented in its current form, the Alternative Investment Management Association has claimed.
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NewsPension fund recoveries could hurt Dutch GDP - DNB
[15:45 CEST 04-08] NETHERLANDS - Pensions regulator De Nederlandsche Bank has claimed the mandatory recovery arrangements of Dutch pension funds may reduce GDP by 0.15% a year or 0.75% by 2013.
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ITV consults on DB changes as deficit predicted to worsen
[16:00 CEST 04-08] UK – ITV has initiated a consultation with staff members over proposals to cap pensionable salary increases at 1% from January 2010, and is also offering pensioners the option of giving up pension increases on part of their pension in return for a "one-off uplift".
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ACA calls for interim changes to PCPF
[16:10 CEST 04-08] UK – The Association of Consulting Actuaries (ACA) has warned against any "significant revisions" to the Parliamentary Contributory Pension Fund (PCPF) until there is a wider review of UK public sector pensions.
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EU committee seeks expert panel on finance
[16:20 CEST 04-08] EUROPE – The European Parliament's Economic and Monetary Affairs Committee is tendering for providers to join a "panel of experts" to provide advice on financial services issues.
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NewsBPK recovery goes back to drawing board
[16:30 CEST 04-08] SWITZERLAND – The canton of Bern has rejected proposals for an increase in contributions to the Bernische pensionskasse (BPK).
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UNJSPF to monitor potential long-term risks
[16:40 CEST 04-08] GLOBAL – The UN Joint Staff Pension Fund confirmed it is closely monitoring market conditions “in the upcoming months” to identify and address potential long-term risks that could negatively impact the fund.
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Wednesday people roundup
[13:00 CEST 05-08] GLOBAL – PGGM Investments, Hermes Fund Managers, Redington Partners, Gartmore, Ignis Asset Management, T.Rowe Price
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NewsBalsfjord joins Norwegian pension tenders
[13:30 CEST 05-08] NORWAY – Balsfjord kommune, in the north of Norway, is the latest municipality to re-tender its public occupational pension provision.
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Barra wins NPRF risk management contract
[14:00 CEST 05-08] IRELAND – The National Treasury Management Agency (NTMA) has appointed Barra International to provide a risk management system for the €19.4bn National Pension Reserve Fund.
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Belgian pensions make Q2 comeback
BELGIUM – Belgian pension funds have pulled back some of the losses seen in the financial turbulence of last year, as a strong performance in all sectors lifted funds within the second quarter, suggests data from Mercer.
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AIB aggregate deficit exceeds €1.2bn
[15:00 CEST 05-09] IRELAND – The pensions deficit of Allied Irish Banks (AIB) - one of the institutions recapitalised by the National Pension Reserve Fund (NPRF) - rose by more than €150m in the first half of 2009, to €1.26bn.
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Dutch employers warn pensions must be cut
[15:30 CEST 05-08] NETHERLANDS - Dutch employers have called on pension arrangements to be cut, as the rapidly rising costs are said to be damaging the competitiveness of Dutch companies.
