All articles by Daniel Brooksbank – Page 200
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Eurostat sees EU dependency ratio rising to 43.9
EUROPE – The old-age dependency ratio in the European Union is expected to rise to 43.9 by 2010, up from 39.2 in 2000, according to the EU’s statistical office.
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SSGA suggests benchmarking against liabilities
UK - State Street Global Advisors has suggested that pension fund benchmarks should be related to a scheme's liabilities and solvency.
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OPRA wants fund managers to blow whistle
UK - The Occupational Pensions Regulatory Authority has suggested that fund managers act as “whistleblowers” for mis-managed pension schemes – which a trade body said could result in a conflict of interest.
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HSBC says ageing is shaping financial services
UK – HSBC says population ageing is starting to shape the demand for financial services.
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Germany’s TUI shifts pension expectations
GERMANY – Tourism and transport giant TUI has revised upwards its actuarial expectations about future pension increases at its German schemes.
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EU seeks European pensions policy coordination
EUROPE - The European Commission has proposed that European Union member states adopt a single set of objectives on pensions and other social protection issues by 2006.
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Czechs must brace for “punishing” pension reform
CZECH REPUBLIC – A rapidly ageing population will result in “punishingly high” contribution and tax rates if the Czech Republic does not make further changes to its pension system, says the International Monetary Fund.
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Researchers eye European supplementary pensions
UK – A research group is to discuss the future of European supplementary pensions at a seminar in London in September.
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Dutch dental fund SPT names new director
NETHERLANDS – The 1.1 billion euro industry-wide pension fund for Dutch dentists has named Mr. B van de Belt as its new director.
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Petroleum Fund rebalances benchmark portfolio
NORWAY – The 86.5 billion-euro Petroleum Fund has rebalanced its benchmark portfolio in a two-stage process that took place in February and March.
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Netherlands’ TPG makes pension deal with unions
NETHERLANDS – Dutch mail and logistics firm TPG has reached a deal on pensions and salaries with union negotiators, under which pensions would remain non-contributory for employees.
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Lucent’s Dutch fund ousts Schootse Poort, ABN Amro
NETHERLANDS – The incumbent managers at Lucent Technologies’ 450 million euro Dutch pension fund, Schootse Poort and ABN Amro, have been replaced in a shift to specialist managers.
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Spanish personal pension returns fall 2.9%
SPAIN – Spanish personal pension returns have fallen 2.91% on a one-year basis, according to Inverco, the Spanish association of institutional investors and pension funds.
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IMF backs PVK’s action on pension underfunding
NETHERLANDS – The International Monetary Fund has backed the Dutch pensions regulator’s action on pension underfunding, calling it “appropriate”.
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ABP chairman calls for wage restraint
NETHERLANDS – The chairman of the board of directors at Europe’s largest pension fund, the 135.6 billion euro Stichting Pensioenfonds ABP, has said that wage restraint is the only way to keep pensions affordable.
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Law Debenture’s finance chief Skeggs leaves
UK – The chief financial officer of trustee services firm Law Debenture, Peter Skeggs, has left abruptly.
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Multi-management has 4% of market – survey
EUROPE – A new survey has found that multi-management accounts for just over four percent of European asset management offerings.
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British Telecom reports E7.9bn pension deficit
UK – Phone firm British Telecom has reported a pension deficit under the FRS17 accounting standard of 5.7 billion pounds (7.9 billion euros) as at May 16.
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EU sees ageing hitting public finances
EUROPE – A new report from the European Commission says there is a “fast closing window of opportunity” before population ageing hits the public finances of European Union member states.
