All Country Report articles – Page 5
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Country ReportUK: Beware the unintended consequences of the DB funding code
Laura McLaren highlights the unintended consequences of TPR’s proposed code, and what can be done to mitigate the risks
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Country ReportUK: to barbell or not to barbell?
In the new world of lower LDI leverage, trustees must choose between maintaining hedging or diversification
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Country ReportUK: Can the country turn a flawed investment ecosytem around?
Decades of complex legislation has fuelled many unanticipated consequences, which has seen pension funds invest less in riskier listed equities and illiquid assets
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Country Report
UK: One way for DC schemes to access private markets
There is much debate about mark-to-model valuation methodologies and whether a material economic downturn will cause these to catch up with public market price falls, but the history books will show that portfolios with allocations to private markets were more robust than those with none in 2022 – the worst year on record for traditional balanced portfolios.
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Country ReportCountry Report – Pensions in UK (May 2023)
UK pensions are at a crucial juncture. The UK Parliament’s inquiry into the LDI crisis of September 2022 shed some light on its causes, but the debate on the role of LDI is alive and well. Meanwhile, regulators including The Pensions Regulator and the Financial Conduct Authority have advised pension schemes on how to make LDI strategies more resilient to shocks.
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Country ReportNetherlands: Early birds gear up for DC switch
The pension funds for pharmacists and librarians will be among the first to move to the new DC system. They talk to Tjibbe Hoekstra about the pros and cons of being an early mover, and discuss how the new system will impact their investment strategies
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Country ReportNetherlands: A bad year for performance
Most Dutch pension funds suffered double-digit losses in 2022
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Country ReportNetherlands: Pension overhaul nears another milestone
The law to reform Dutch pensions has finally been approved by the Dutch lower house, but the switch from DB to DC still needs to clear one hurdle – the Senate
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Country ReportNetherlands: Interview with Agnes Joseph
The current timetable leaves no margin for error, Achmea’s Agnes Joseph tells Tjibbe Hoekstra
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Country ReportCountry Report – Pensions in the Netherlands (April 2023)
The Netherlands is in the final legislative stages of what will probably be the largest and most complex workplace pension system change ever in the world. Yet as it edges towards the parliamentary finishing line, recent political events could yet knock the process off course.
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Country ReportGermany: Financing the Energiewende
German professional pension funds like ÄVWL and BVK are keen to support the energy transition process
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Country ReportGermany: Viewpoints on corporate pension proposals
IPE asked leading practitioners for a progress report on company pensions
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Country ReportGermany: Clash of views on private pension reform
Discussions on third-pillar reforms have begun but views differ, particularly about setting up a public fund
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Country ReportGermany: First pillar pension reforms in need of political and financial capital
Berlin’s new ‘Generationenkapital’ concept is intended to revamp the ailing first pillar but political consensus is lacking and more capital will be necessary to endow the planned state fund
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Country ReportGermany: Aba's perspective on pension reforms
Klaus Stiefermann, managing director of the German occupational pension association Aba, tells Luigi Serenelli about the main proposals to change the pension system
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Country ReportCountry Report – Pensions in Germany (March 2023)
Angela Merkel’s governments largely dodged the political hot potato of first-pillar pension reform, which means the current overhaul to the state system is overdue. But it barely gets to grips with the issues. For one, it does not deal with entitlements or increase the retirement age; second it introduces a funded component that will probably only take effect in the 2030s, when the post-war demographic peak is passing.
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Country ReportIreland: Taking stock of LDI
While there are no immediate concerns, liability-matching assets fell significantly last year following rising euro yields
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Country ReportIreland: In rude health
Heading into 2023, the largest schemes are in funding surplus for the first time
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Country ReportIreland: IAPF view – The pension landscape is evolving fast
Reform of the Irish pensions system is in motion but much more needs to be done
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Country ReportIreland: Viewpoint – Trustees, understand the employer covenant
Pensions may lose out if boards do not have a full grasp of the risks facing schemes
