All articles by Barbara Ottawa – Page 85
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NewsUnion federation says yes to pensions deal
[16:10 CEST 14-04] AUSTRIA – The 1,200 employees of the union federation ÖGB agreed to plans by the management to start funding pension liabilities.
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NewsBonus appoints new head
[12:00 CEST 10-04] AUSTRIA – Bonus Pensionskasse, Austria's smallest multi-employer pension fund, the has just announced it has a new head and revealed the €246m fund outperformed the market by 0.34 percentage points.
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Switzerland to cut pensions by 8% from 2015
[14:30 CEST 08-04] SWITZERLAND – The Swiss parliament has further slowed down plans by the government to cut pensions in order to make assets in pension funds last longer.
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Pension assets granted CGT exemption
[15:15 CEST 07-04] AUSTRIA – The introduction of a capital gains tax (CGT), the so-called Vermögenszuwachssteuer, in Austria will not affect increases in pension assets, finance minister Wilhelm Molterer has confirmed.
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SBB warns wage cuts needed to fund Pensionskasse
[12:30 CEST 04-04] SWITZERLAND – The global financial crisis has aggravated the financial situation of the Pensionskasse for SBB, the Swiss federal railways operator, so much it is now asking for state aid or it will have to cut wages by up to 6%.
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“CEE safe place to be as an investor” - East Capital
[15:45 CEST 03-04] AUSTRIA/CEE – Swedish asset manager East Capital presented its new office in Vienna today from which it aims to grow its sales and investments in Central and Eastern Europe (CEE).
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Czech pension funds level 2006 returns
[16:40 CEST 02-04] CZECH REPUBLIC – Czech pension funds are only little affected by the global financial crisis reporting an average performance of 3.2% for the last quarter of 2007 similar to the 3.5% in the previous year.
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Ospel quits UBS amid further write-downs
[15:00 CEST 01-04] SWITZERLAND – Crisis-ridden Swiss bank UBS has announced another capital increase to balance out further write downs of $19bn (€12bn) on subprime related assets.
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German pensions system "too complicated"
[15:45 CET 28-03] GERMANY – Supplementary retirement vehicles need to be simplified in order to boost the country's second pillar, the German banking federation “Bankenverband” has suggested.
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Vienna Insurance widens doorway to CEE
[16:00 CET 27-03] EUROPE – Vienna Insurance Group (CIG) is aiming to strengthen its CEE life insurance offering, which includes pension products, with the acquisition of Erste Bank's insurance arm.
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BLPK at top end of Swiss performers
[16:30 CET 26-03] SWITZERLAND – The CHF5.2bn (€3.3bn) Basellandschaftliche Pensionskasse generated a 4%return on investments in 2007.
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Poland and Eureko seek final court settlement
POLAND – The Polish government and Dutch financial group Eureko have agreed any compromise reached in talks over Polish insurer PZU will be made subject to approval by a Polish court.
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Generali goes after Austrian pensions business
[15:00 CET 13-03] AUSTRIA – Hemma Massera, former head of actuarial and benefit consultant Greco, joins Generali to head a new unit specialised in occupational pension products.
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Swiss AHV returns just remain positive
[16:30 CET 12-03] SWITZERLAND – The Swiss first pillar fund AHV saw its return fall to 0.4% last year compared to 6.8% in 2006.
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Germans' pensions saving “not efficient” - Fidelity
[16:55 CET 11-03] GERMANY – A large majority of Germans are scared about their retirement provision and this fear is leading to “inefficient savings”, Fidelity International has suggested.
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Slovakia makes opting-out easier
SLOVAKIA – People who want to opt out of the Slovak second pension pillar no longer need to have their signatures on the leaving contracts notarised.
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FeaturesEU warning over tax discrimination
Germany and Estonia received formal notices from the European Commission requesting information concerning different tax treatment of foreign pension funds on dividends and interest.
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NewsVolatile markets widen Basle hole to CHF2.8bn
[13:30 CET 07-03] SWITZERLAND – The city of Basle has to earmark CHF79m more than expected from the budget for fully funding the pension fund of its employees (PKBS).
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IMF warns against first pillar opt-out
[14:00 CET 06-03] CZECH REPUBLIC - Allowing people to opt out of the pay-as-you-go state pension pillar might end in consumption decline in the long run, the International Monetary Fund (IMF) has warned.
