All articles by Cecilia Valente – Page 39
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Zurich’s Churchill to head UK’s protection fund
UK – The government has named Zurich Financial Services’ former UK insurance chief Lawrence Churchill as chairman of the Pension Protection Fund.
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NAPF Conference: consultants want governance
UK - The government should legislate for "a more appropriate governance structure" for pensions, says the president of the Society of Pensions Consultants.
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NAPF Conference: Faulkner backs trustees
UK – Trustees are doing a "good job" the chairman of the National Association of Pension Funds, Terry Faulkner, said today.
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German firms eye Anglo-Saxon approach
GERMANY - The German pension market is set to grow in the near future with companies adopting the Anglo-Saxon approach pioneered by Hewlett-Packard, according to the former head of HP’s pension fund in Germany.
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French reserve fund tenders data management brief
FRANCE - The 16 billion-euro French Pensions Reserve Fund, or Fonds de Reserve pour les Retraites, is looking for a manager to process data sent to its financial and technical databank, Spirris.
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Channel Islands: BWCI partner Benjamin retires
CHANNEL ISLANDS - Rodney Benjamin, a partner of the Channel Islands-based actuaries and consultants association BWCI Group, has retired.
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Swiss to vote on amendments to first pillar
SWITZERLAND - The Swiss public is to vote on Sunday on changes to first-pillar pensions and a one percent hike in value added tax to fund old age and invalidity pensions.
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Swiss schemes' funding woe eases - Swissca
SWITZERLAND – Higher stock markets have improved the average coverage ratio for public and private pension funds in Switzerland from 100% to 104% but pension funds are under a lot of pressure, according to a new survey.
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Real estate firm EC Harris hires Lane Clark
UK - Real estate consultancy EC Harris has hired Lane Clark & Peacock to provide actuarial, investment and pension administration services to the group’s closed defined benefit pension scheme.
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Flintshire taps T. Rowe Price for US equities
UK - Flintshire County Council has awarded a 42 million-pound (62.8 million-euro) US risk-controlled equity mandate on behalf of the 550 million-pound Clwyd Pension Fund to T. Rowe Price.
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Lufthansa taps State Street for E4bn in custody
GERMANY- Airline group Lufthansa says it has awarded State Street Corp. a custody and accounting services brief worth around 4.3 billion euros, meaning State Street retains the former Deutsche GSS client.
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H-P’s German pension head to start own firm
GERMANY - The treasurer of the Hewlett-Packard pension fund in Germany, Hubert Teichmann, has left the fund to set up his own business, the company said.
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Italy’s Cometa tenders entire E2bn portfolio
ITALY - The Cometa engineering workers’ pension fund, which is expected to be worth two billion euros by the end of 2004, has tendered its entire portfolio.
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BNP Paribas unveils new pension plan
FRANCE - BNP Paribas is to launch it an individual pension plan, Plan d’Erpargne Retraite des Particuliers, which will be available from May 10 at its branches.
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Italy to raise tax on “golden pensions”
ITALY - The tax rate on top managers’ so-called “golden pensions” - which can be as high as 516 euro a day - will be increased from three to four per cent, welfare minister Roberto Maroni has said.
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ABA meeting: Siemens hails “leap forward” to DC
GERMANY – Industrial group Siemens AG has called its switched to a defined contribution pension system a “leap forward”.
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ABA meeting: way out from low pension take-up
GERMANY - The lower than expected take-up of alternative pension provision could be reverted if workers automatically paid part of their wages into pension schemes, the ABA conference was told today.
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ABA meeting: Germany explains pension changes
GERMANY - Pensioners who have so far enjoyed tax privileges will gradually pay more from next year until 2040, says a top German finance official.
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ABA meeting: Bosch says keep pensions voluntary
GERMANY - Employers offering attractive pension schemes will have advantages in the labour market but pension schemes should not be compulsory, says Wolfgang Malchow, managing director of industrial group Robert Bosch.
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ABA meeting: Andresen sees ray of hope
GERMANY – The head of the German corporate pension association has said the pension reform is not entirely "made of shadows".
