All articles by Barbara Ottawa – Page 75
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Fico set to change pension fund fee structure
SLOVAKIA – Slovakian prime minister Robert Fico has presented parliament with a bill to change the fee structure for pension fund management companies and base it more on positive performance.
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Consultant expects little from pension reform talk
[15:50 CET 11-03] AUSTRIA – Kurt Bednar, occupational pension expert with international consultancy Funk, is sceptical about the recently implemented reform commission for Austria’s pensionskassen system and claims discussions are unlikely to come to any useful conclusion.
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ASIP supports cut to conversion rate
[17:05 CET 10-03] SWITZERLAND – The Swiss pension fund association ASIP has waded into the debate on lowering the conversion rate in the second pillar and told unions their demands would lead to a collapse of the system.
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VBV severance pay fund returns -0.17%
[17:10 CET 09-03] AUSTRIA – The VBV-Vorsorgekasse, the severance pay fund offered by Austria’s largest Pensionskasse, has performed better than the market average in 2008.
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NewsGerman pension vehicles to diversify - Mercer
[16:45 CET 06-03] GERMANY – Retirement providers in Germany are likely to maintain one of the lowest equity exposures in Europe as a result of recent market turbulence but will continue to diversify into other strategies, consultancy Mercer has told IPE.
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MPK underfunded for the first time
[17:10 CET 05-03] SWITZERLAND – The CHF14.8bn (€10bn) pensionskasse for the Swiss retail giant Migros (MPK) has fallen to a 97.1% funding level after delivering a negative return of 12.3% last year.
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Pension guarantee against law, says supervisor
[17:20 CET 04-03] AUSTRIA – The Austrian supervisor FMA has criticised ÖPAG Pensionskasse for offering guarantees in a recently-signed contract with the University of Vienna.
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Publica returns -6.86%
[17:05 CET 03-03] SWITZERLAND – The CHF30bn (€20.3bn) public service pension fund Publica saw its funding level drop by over 10 percentage points to 95.8% over the last year.
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Pensionskassen important for recovery, claims Böhm
[16:10 CET 02-03] AUSTRIA/GLOBAL - The head of Austrian Pensionskasse APK has hit back at recent criticism of pensions investors and claimed pension funds will be important investors once markets normalise again.
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SMEs claim staff not interested in pension plans
[15:40 CET 02-03] GERMANY – Three-quarters of HR managers at small- to medium-sized German enterprises say they are not planning to increase the pensions offer to employees or even set one up but do so by blaming it on their staff.
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UBS’ Marcel Rohner resigns
[10:30 CET 26-02] SWITZERLAND – The chief executive of troubled Swiss bank UBS Marcel Rohner has resigned and is succeeded by Oswald J. Grübel.
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VBV to raise commodity holding
[17:00 CET 25-02] AUSTRIA – VBV, the largest Austrian Pensionskasse, wants to invest more in commodities and is looking at a foray into infrastructure.
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Czech funds meet need for positive return
CZECH REPUBLIC – Only two funds in the Czech Republic private pension sector managed to generate a return above 1% last year, but all at least delivered positive performance as the other eight just scrapped the zero mark.
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Pensions win extra employer payments
[16:30 CET 23-02] GERMANY – Latest statistics compiled by the investment association BVI suggest additional payments made by German employers and designated for investment are more frequently being used for pensions provision.
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A quarter of Pensionskassen are under 90%-funded
[17:05 CET 19-02] SWITZERLAND – Consultant Swisscanto has discovered the average funding level of Swiss Pensionskassen had deteriorated to 94.4% by the end of 2008 and the buffer funds have all but dried up.
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Expert demands state hand-outs for Pensionskassen
[16:05 CET 18-02] AUSTRIA – Austrian pension expert Johannes Rudda would like to see the federal state put money into Pensionskassen with employers being another possible source for financial aid.
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UBS adopts IAS19 accounting
[15:45 CET 17-02] SWITZERLAND – Swiss bank UBS has changed the way it is accounting for its pension assets thereby increasing the group’s assets by CHF1.6bn (€1.07bn).
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Union Investment loses assets but gains clients
[17:10 CET 16-02] GERMANY – German asset manager Union Investments saw its assets under management drop by €31bn last year even though it gained 30 new institutional clients.
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NewsMetallRente grows assets in difficult year
[12:00 CET 13-02] GERMANY – The MetallRente pension provider saw its assets grow by 4% to €1.4bn in a year when its Pensionsfonds posted a negative return of -16.1%.
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First CEO of Germany's ABV dies
[16:50 CET 12-02] GERMANY – Hans Hermann Reusch, a former head of the pension fund association ABV, has died aged 78.
