All articles by Barbara Ottawa – Page 56
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NewsAustrian pension funds question value of master KAGs
EUROPE – Austrian pension funds APK and Bonus have questioned the benefits of using external providers and said they found it hard to trust them with risk reporting and other services.
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NewsBulgaria abandons plan to nationalise pension system
BULGARIA – The Bulgarian government has said it will abandon its plans to redirect funds from 'professional' pension funds into the first pillar, but it will withdraw some money for early retirees.
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NewsLiechtenstein establishes first pension fund association
LIECHTENSTEIN – The small principality of Liechtenstein, lodged between Switzerland and Austria, has created its first pension fund association, the Liechtensteinischer Pensionskassenverband.
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NewsIASB failing to prioritise IAS19, says International Actuarial Association
GLOBAL – IAS19 standards on pension fund accounting are not a top priority for the IASB at the moment, according to Paul Thornton, head of the International Actuarial Association (IAA).
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Features
German education funds a no-brainer
Germany has jumped on the bandwagon of education funds, with pension funds sensing an opportunity for uncorrelated returns above bond yields with an altruistic benefit. On average, a German student wanting to graduate from a private university needs €25-30,000, of which only a small proportion is covered by grants.
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NewsGerman roundup: Auxilion on second-pillar interest, Union Investment on Riester contracts
GERMANY – Pension agents in small and medium-sized enterprise are not doing enough to pique interest in second-pillar pension schemes and need expert advice, according to HR representatives.
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NewsSwiss roundup: Swisscanto, Credit Suisse, Melbourne Mercer
SWITZERLAND – Funding at Swiss Pensionskassen has returned to levels seen at the end of last year, according to a survey by Swisscanto.
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NewsGerman pension system falls short on sustainability, integrity
GERMANY – The German pension system is particularly lacking in the areas of sustainability and member communication, according to Mercer Germany.
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NewsBulgaria takes steps to pull funds from professional pension schemes
BULGARIA – The Bulgarian council of ministers has decided to stop contributions to professional pension funds from next year and eventually withdraw all accrued assets from the funds.
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NewsGerman province to discontinue MP fund
GERMANY – The German province of Saxony is thinking to discontinue a pension fund set up for regional MPs due to its inefficiency.
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NewsShareholder groups thinking to join US class action against UBS
GLOBAL – Swiss shareholder groups Ethos and Actares are considering to join a US class action against Swiss bank UBS.
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NewsSwiss roundup: Complementa MBO, Swiss BVK scandal
EUROPE – Swiss consultancy Complementa has sold part of its German business to a former board member.
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NewsReturn for Swiss pension fund index fails to meet required minimum
SWITZERLAND – The Credit Suisse Pensionskassenindex increased by nearly 2.5 points, or just over 2%, in the third quarter, yet the return failed to meet the legally required minimum rate, according to Credit Suisse.
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News
Mercer warns of funding issues at German blue-chip pension schemes
GERMANY – Underfunding in German blue-chip companies’ pension plans is set to widen by €40bn due to the effects of low interest rates, Mercer has found.
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NewsEstonia lines up stricter investment rules for pension funds
ESTONIA – Investment regulations for Estonia's second pillar are set to be revised following a post-crisis analysis by the country's finance ministry.
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NewsGerman institutional investors to double equity allocations
GERMANY – German institutional investors are aiming to increase their equity exposure by 6.8 percentage points in the first half of next year, nearly doubling the current allocation, according to a survey by SEB Asset Management.
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NewsNestlé names former UK CFO Phillips as pension head
SWITZERLAND – Stephen Phillips, former CFO at Nestlé UK, has been named head of Nestlé's pension department.
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FeaturesAustria: still searching for the way ahead
Negotiations on the next stage of Austria's pension reform have produced consensus on some points and a pile of wish-lists for further discussion, reports Barbara Ottawa
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NewsGerman institutions swapping bonds for real estate
GERMANY – German institutional investors, in their search for stable returns without increasing risk, are turning away from European fixed income to real estate, while faith in external managers and consultants remains low, according to a survey by Greenwich Associates.
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NewsSwiss BVK members demand compensation for 'misguided' policy
SWITZERLAND – Members of the Swiss BVK have demanded compensation from the beleaguered pension fund, blaming its current underfunded position on a "misguided" contribution policy.
