All articles by Barbara Ottawa – Page 90
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M&S makes £95m from pension cuts
[16:30 CET 06-11] UK – As pension scheme members consent to slow down benefit increases British retail group Marks & Spencer (M&S) reports a £95m (€136.5m) exceptional pension credit in its interim results.
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Irish funds return 1.7% in October
[16:30 CET 06-11] IRELAND – All managed pension funds were back to positive returns after the market turmoil of the summer with the average fund returning 1.7%.
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Deloitte under review at TPR
[15:30 CET 06-11] UK – The Pensions Regulator (TPR) is tendering for a new internal auditor.
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PPM wants to 'wake up' DC members
[15:15 CET 06-11] SWEDEN – The Premium Pension Authority PPM is planning to send a reminder to 600,000 members of the compulsory defined contribution system who have not changed their fund selection since entering.
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Pension funds still set longevity too low – PCS
[16:45 CET 05-11] UK – Pension liabilities of the top 100 London-listed companies could be underestimated by as much as £40m (€57.5m), risk management firm Pension Capital Strategies (PCS) is convinced.
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Swiss funds return 3.5% - Lusenti
[16:30 CET 05-11] SWITZERLAND – Swiss Pensionskassen returned 3.5% in the first half of this year, and consultancy Lusenti is expecting similar returns even after recent market turbulence.
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HVB sells out pension consulting
[16:10 CET 05-11] GERMANY – The Bavarian HypoVereinsbank (HVB) has sold parts of its subsidiary Pension Consult in order to focus solely on Pensionsfonds.
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Pension companies double hedge fund investment
[16:45 CET 01-11] FINLAND – Pension insurance companies are moving to hedge funds for better returns as bond markets fail to impress, statistics reveal.
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IPE-QUEST: €50m commodities mandate
[16:15 CET 01-11] DENMARK – Danske Capital is searching for an active long only commodity fund via IPE-Quest.
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Pension costs cripple Royal Mail profit
[16:00 CET 01-11] UK – Soaring pension fund costs reduced the profit for Royal Mail by one third over the last year.
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High inflation benefits funds not pensioners - Aon
[15:00 CET 01-11] UK – FTSE100 companies saw their pension surpluses rise to record heights on the back of rising inflation, while benefit payout increased only enough to maintain purchasing power of pensions, consultancy Aon has found.
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Steffen re-elected CEIOPS head
[16:30 CET 31-10] EUROPE – Thomas Steffen of the German financial services watchdog BaFin has been re-elected as chair of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
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BAA flies 130/30
[16:30 CET 31-10] UK – The £2bn (€3bn) defined benefit scheme of the UK airport group BAA will invest £330m in 130/30 strategy funds.
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Welsh £50m currency brief awarded
[16:15 CET 31-10] UK – The £1.36bn (€1.9bn) Council of Rhondda Cynon Taf pension fund has hired Record Currency Management for its first foray into currency investment.
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Nordic pensions pass €200m to Dr. Lübke AM
[16:00 CET 31-10] GERMANY/NORDICS – German real estate consultancy Dr. Lübke has started its new asset management operations with €200m in investments from Scandinavian pension funds, the company revealed today.
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Kingfisher goes 130/30 under new pensions head
[16:00 CET 31-10] UK – The £1.3bn (€1.9bn) The Kingfisher defined benefit scheme will now deploy a new pensions head to find a suitable manager for its move into 130/30 strategies.
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AP7 names portfolio revamp technology
[16:30 CET 30-10] SWEDEN – The Swedish buffer fund AP7 has applied the New Frontier Advisors' IT platform for its latest major strategic asset allocation review.
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Moody's predicts cross-border banking consolidation
[16:15 CET 30-10] ITALY – The incorporation of Capitalia into UniCredito was probably the last chance for a major inter-Italian consolidation in the banking sector but mergers are likely to continue cross-border, analyst group Moody's has stated.
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AP1 exits Carnegie committee in protest
[15:45 CET 30-10] SWEDEN – AP1, the largest Swedish buffer fund SEK221bn (€24bn) AP1 has withdrawn its delegate from the nomination committee at Carnegie bank, in protest against the proposed new chairman.
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Irish insurance fund to dry up from 2016 - Mercer
[16:00 CET 29-10] IRELAND – The Social Insurance Fund will accumulate a €35bn deficit by 2061 if current regulatory frameworks on retirement age and contribution rates are maintained, Mercer's most recent actuarial valuation of the fund has found.
