All articles by Barbara Ottawa – Page 82
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NewsUkraine's second pillar on hold
UKRAINE – Adverse financial market conditions have led to a further postponement of the introduction of a second pillar in Ukraine.
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Swiss pension funds move back to positive ground
[16:30 CEST 09-07] SWITZERLAND – Pensionskassen are back in black for the second quarter but Credit Suisse's calculations are pointing downwards again.
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Pension deal dies along with coalition
[12:30 CEST 08-07] AUSTRIA – Austrian voters will have to choose a new government as the coalition between the SPÖ and ÖVP parties has broken over pension, health and EU issues.
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Romanian pension assets to reach €224m by year end
ROMANIA – Romanian second pillar funds are expected to collect €224m in contributions in their first year of existence - but that is not enough according to the IMF.
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Resistance against SBB financial aid
[15:50 CEST 04-07] SWITZERLAND – The Swiss economic federation “economiesuisse” as well as the conservative opposition party SVP reject plans to further subsidise the underfunded federal railways pension scheme SBB.
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Serbia mulls second pillar (amended)
SERBIA – Within the next few years Serbia will be next in line in the CEE region to introduce a mandatory second pillar, Marija Medenica, director of Erste Invest Beograd, has told IPE.
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SRI indices underperformed in market turmoil
[12:00 CEST 01-07] AUSTRIA/GLOBAL – SRI indices have underperformed their peers during recent market turbulence but Martin Cech, portfolio manager at Austrian SRI asset manager Vinis argues this is only a glitch in the responsible investment success story.
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Pictet claims growth towards packaged funds
[15:00 CEST 30-06] EUROPE – Institutional investors are increasingly looking at ready-made fund solutions for their investments rather than go through the process or tendering mandates, Swiss private bank Pictet has claimed.
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Swiss canton faces dear DB/DC change
[13:30 CEST 27-06] SWITZERLAND – The member committee of the Bernische Pensionskasse (BPK) wants the canton to guarantee all pension benefits should there be a switch from a defined benefit to a defined contribution scheme.
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Accounting reform to 'double pension burden'
[11:00 CEST 26-06] GERMANY – Changes to the German accounting standards HGB will increase pension obligations significantly, according to Raimund Rhiel, chief executive at Mercer Germany.
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News'Keep pension reserves on books' - consultant
[13:30 CEST 25-06] AUSTRIA – Consultancy Arithmetica recommends Austrian companies to keep their pension reserves unfunded for now because of the market turbulences.
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IMF tells Austria to 'ease investment restrictions'
[14:00 CEST 24-06] AUSTRIA – Regional restrictions on equity exposure in third-pillar pension vehicles might be detrimental to the funds' performance, the International Monetary Fund (IMF) has suggested.
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Parliament approves use of pensions assets for housing
[15:30 CEST 23-06] GERMANY – Germans saving in the "Riester-Rente" are now allowed to take all the money saved, including the state subsidies, and use it to finance the purchase of a personal home.
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Another German province chooses 'Fed'
[16:00 CEST 20-06] GERMANY – Mecklenburg-Vorpommern has signed a contract with the federal "Bundesbank" to take over the asset management of its newly-created Pensionsfonds.
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Pension deal might break coalition
[16:25 CEST 19-06] AUSTRIA – The recently settled deal on sustainability in the pension system might now turn into the breaking point of the government coalition as one of the parties is changing its course.
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Bank withdraws Romanian pension business
ROMANIA – MKB Romexterra has quit the newly-created Romanian occupational pension sector because there are too few participants in its fund.
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APK turns to alternatives
[15:00 CEST 17-06] AUSTRIA – The €2.4bn Austrian multi-employer Pensionskasse APK is looking for alternatives to “level out increasing volatility in the current market environment”, the fund's head Christian Böhm told IPE today.
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Rights issue protagonist quits UBS
[16:50 CEST 16-06] SWITZERLAND – Swiss pension fund Profond has sold its shares in Swiss bank UBS citing “mistrust” in the new management, just months after arguing smaller shareholders should be allowed to invest in the firm.
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Czech fund improves performance
[16:20 CEST 13-06] CZECH REPUBLIC – Ceske sporitelny (PFCS), the second-largest Czech pension fund, saw its profits double in 2007 and has consequently set the return rate at 3.07% for the last year compared to 3.04% the year before.
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Recession and collapsing banks are good – Faber
[16:15 CEST 13-06] GLOBAL – Swiss-born investment manager Marc Faber believes the recent turbulence of the capital market are a healthy lesson in teaching investors to be more careful when choosing their investments.
