All IPE articles in August 2009 (Online) – Page 5
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Polish second pillar in need of 'fine tuning' – KNF
POLAND – The Polish supervisory authority KNF sees three major challenges for a reform of the Polish second pillar, including lower risk profiles and capital requirements.
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German public funds improve risk management
GERMANY – German public pension funds have followed industry practice in adopting enhanced risk management provisions, even though they are not legally required to.
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NewsImproved equity returns lower pension deficits
[16:55 CEST 11-08] UK – Positive activity in the equity markets lowered the UK’s total pensions deficit last month, however the aggregate funding level of UK pension funds is still at a deficit of £158bn (€184bn).
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NewsItalian pension changes lie in wait
[16:35 CEST 11-08] ITALY - While the financial crisis has put a stop to immediate action in the Italian pension fund industry, changes remain on the horizon, say pension officials. And a reform of decree 703/96, relaxing the investment limits for closed and open pension funds may be one of ...
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NewsArcadis signs Delta Lloyd in asset strategy rethink
[16:30 CEST 11-08] NETHERLANDS - Arcadis, the €617m pension fund for civil engineers, has appointed Delta Lloyd as manager of its €97m portfolio of government bonds, as part of a larger revamp to its asset allocation strategy.
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NewsInvestor influence helped climate policy change
[16:25 CEST 11-08] GLOBAL - Increasing investor activity with companies is partly responsible for an improvement in the way companies address climate change, according to environmental, social and governance (ESG) research provider EIRIS.
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NewsOnly small German minority to gain decent pension - research
[16:10 CEST 11-08] GERMANY – Just under 19% of Germans are building benefits in an occupational pension scheme and nearly 30% have a “Riester-Rente”. But only half will find this will be sufficient to uphold their current living standards, suggests research.
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NewsRaising retirement to 70 may be necessary – consultants
[16:00 CEST 11-08] UK – Workers may eventually have to consider working until the age of 70 unless they put sufficient money into their pensions, according to consultants. However new research suggests employees are not even aware of the pending change to the UK retirement age so doubts have been ...
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NewsUnilever joins Austrian ÖPAG
[17:25 CEST 10-08] AUSTRIA – The Austrian branch of international company Unilever is outsourcing its pensionskasse to the multi-employer fund ÖPAG.
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NewsOcé scheme prepares for benefit cuts
[17:15 CEST 10-08] NETHERLANDS - The hard-hit pension fund of photocopier manufacturer Océ has announced it will start cutting pension rights and benefits next year if the economic situation has not sufficiently improved.
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NewsGerman corporate investigates covered paper
[17:00 CEST 10-08] IPE QUEST – A German corporate pension fund is looking to invest $50m (€35m) in euro-denominated covered bonds, and is conducting the search through IPE-Quest.
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NewsSSGA sees Schock exit
[16:50 CEST 10-08] BELGIUM – Jean-Francois Schock has left his role as managing director for Europe at State Street Global Advisers and opened a consultancy practice in Brussels to work on the development of new investment products.
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NewsRomania sees fresh growth in 2009
ROMANIA – Second pillar funds in the Romanian pensions market performed a fraction better in the first seven months of this year than third pillar funds, according to the latest figures from the Romanian Pension Funds’ Association (APAPR).
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NewsBT assets covered 57% of benefits in 2008
[16:10 CEST 10-08] UK – BT Pension Scheme, the £31.3bn pension fund of the telecoms giant, would have had enough assets to cover 57% of members’ benefits with an insurance company by the end of 2008 had its sponsor collapsed, the latest annual report has revealed.
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NewsPhysios scheme scales down unconditional indexation
[16:45 CEST 07-08] NETHERLANDS - The €1.6bn pension fund for physiotherapists (SPF) has decided to lower its 2.5% fixed indexation payment, as the scheme had a cover ratio of 94% by the end of last year and a return of –14%.
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NewsDutch premiums may need to rise by a third – study
[16:30 CEST 07-08] NETHERLANDS – Current pension contribution levels may have to rise by an average of one-third by 2014, if pension funds are to recover their funding ratio to the required minimum of 105%, suggests research.
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NewsITV could have cut pensions deficit by £100m
[16:15 CEST 07-08] UK – ITV's pensions deficit had increased to £538m (€631m) on an IAS19 basis by the end of June. But the company has claimed this deficit could have been reduced by up to £100m if its proposals had been in place to cap pensionable salary increases to ...
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NewsSocGen asset head resigns on insider trading probe
[16:00 CEST 07-08] FRANCE – Jean-Pierre Mustier, the current head of asset management and investment banking at Société Générale, has agreed to step down from his role by the end of the year after the Financial Markets Authority (AMF) named him in an insider trading probe.
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NewsIMF warns Swiss guarantee is at risk
[13:30 CEST 07-08] SWITZERLAND – The International Monetary Fund (IMF) doubts Swiss life insurances have enough buffers to continue guaranteeing a 4% annual interest rate on pension funds.
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NewsFund managers return to client priorities - Investit
[12:30 CEST 07-08] GLOBAL – The recent economic crisis has forced asset managers to rethink their priorities away from sales and product development in favour of risk transparency and client information delivery, suggests a study conducted by Investit.
