All articles by Barbara Ottawa – Page 77
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Swiss funds hit historic returns low
[16:40 CET 15-01] SWITZERLAND – Swiss Pensionskassen posted a negative return of 13% for the full year 2008, according to preliminary calculations for the Credit Suisse Pensionskassenindex.
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Front against conversion rate cut grows
[16:15 CET 14-01] SWITZERLAND – The largest union in Switzerland as well as several opposition parties are calling on people to sign up for a referendum against a cut of the conversion rate in second pillar pensions.
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Consolidation stage set in Romania
ROMANIA – The Romanian pension market is set for consolidation within in its first full year of business, Simona Diţescu, CEO of BCR Administrare Fond de Pensii, has told IPE.
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WWH urges accounting swaps be switched
[16:00 CET 12-01] GERMANY – Watson Wyatt Heissmann has called for revised German accounting standards, the so-called BilMoG bill, to be reversed as new accounting terms could lead to an enormous increase in German companies’ pension obligations.
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Siemens opens Pensionskasse
[15:10 CET 18-12] AUSTRIA – The Austrian branch of international group Siemens is planning to turn its Pensionskasse into a multi-employer fund.
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Polish funds deliver worst result ever
POLAND – Assets in polish pension funds were down -6.8% in October alone, making it the worst month in the history of the system.
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RCM sees assets drop by 32% but stays ahead
[17:05 CET 16-12] AUSTRIA – Raiffeisen Capital Management (RCM) suffered outflows and losses of €12.2bn in the first 10 months of this year but maintained its market leadership, officials have claimed.
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Expert supports full-funding holiday
[16:50 CET 15-12] SWITZERLAND – A Swiss pension consultant is supporting a call by Swiss centre-left politicians to postpone putting money into the Pensionskasse Basle-City during the current economic crisis.
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Swiss parliament rallies behind rate cut
[16:00 CET 12-12] SWITZERLAND – The smaller chamber of the Swiss parliament (Ständerat) has now agreed the conversion rate of second pillar pensions should be cut to 6.4% by 2015 in light of the financial crisis.
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To fund or not to fund now – a Basle question
[17:15 CET 11-12] SWITZERLAND – Parties in the Swiss canton of Basle city are divided over the question whether or not to postpone payments to the pension fund in light of the current financial crisis.
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Pensionskassen could be reformed
[17:15 CET 10-12] AUSTRIA – The new Austrian government coalition has signed a working paper which contains plans to discuss reform of the Pensionskassen system in Austria.
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Pensionskassen called on to split active/ retired members
[15:45 CET 09-12] AUSTRIA – The Austrian Private Equity and Venture Capital Organisation (AVCO) has called on pensionskassen to split their active and passive members as officials argue sharing the same portfolio is an obstacle to investing in venture capital.
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Germans claim to believe in long-term profit
[17:05 CET 08-12] GERMANY – Only 10% of Germans have changed their private pension provision on the back of the financial crisis, a survey by JPMorgan has found.
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VBV wants variable calculation rate
[16:45 CET 27-11] AUSTRIA – VBV, the largest Pensionskassen in the Austrian pensions market, has called for greater flexibility in the rate at which pensions are calculated, in a bid to minimise the number of cases where payouts are being cut.
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Pension members need Europe-wide supervision - actuaries
[17:05 CET 26-11] EUROPE – The European umbrella organisation of actuaries wants to see plans for a Europe-wide supervision of occupational pensions being sped up.
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Doctors’ fund creates its own crisis
[16:00 CET 25-11] AUSTRIA – The €250m fund for 8,000 doctors in the country’s largest province of Lower Austria is facing massive financial difficulties but not because of the credit crisis.
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Pensionskassen growth remains slow
[16:50 CET 24-11] GERMANY – A German government report on pensions has revealed there has been little growth, for the third year in a row, in the membership of Pensionskasse as share of employees with occupational pension accounts stood at 52% last year and is likely to stay at that ...
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NewsCall for pension sea change
[11:30 CET 21-11] EUROPE - Pension funds, asset managers and consultants need to completely change the way they are working together to ensure the future of pension provision but not through new outside regulation, Amin Rajan, CEO of Create-Research, told delegates at the IPE seminar in Barcelona yesterday.
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Romanian funds shrink equity exposure
ROMANIA – Investment in equities by the newly-established Romanian second pillar funds has now reached a record low of 2% at end-October.
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Swiss households lost CHF1.8m through 2nd pillar
[16:15 CET 20-11] SWITZERLAND – Swiss households’ savings in Pensionskassen and insurances grew only half as much as in 2007 than in the year before, according to the Swiss National Bank (SNB).
