All IPE articles in December 2008 (Online)
View all stories from this issue.
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NewsPresidential veto overruled
POLAND – An alliance between the Polish right of centre coalition government and the left of centre opposition party has overturned a presidential veto on legislation to create so-called bridge pensions and replace early retirement benefits.
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News9% of DB schemes avoided risk levy
[16:00 CET 23-12] UK – One in 11 of the schemes eligible for entry into the Pension Protection Fund (PPF) paid no risk-based levy in the 2007/08 year, according to figures from the third version of the Pensions Universe Risk Profile (PURPLE) Book.
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NewsDelta Lloyd scheme grants full indexation
[15:30 CET 23-12] NETHERLANDS - The €1.4bn pension fund of insurer Delta Lloyd Group has granted its participants full indexation for 2009.
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NewsVB to look into its members’ costs
[15:15 CET 23-12] NETHERLANDS - The Dutch association of industry-wide pension funds (VB) has commissioned a study into the costs of its 82 members in a bid help affiliated schemes compare the charges they incur.
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NewsIlliquidity stops buyouts from hitting £10bn
[16:50 CET 22-12] UK – The buyout market is expected to miss the £10bn (€10.6bn) mark predicted earlier this year, following a lack of liquidity caused by the global financial crisis, according to Aon Consulting.
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NewsNordic pension funds team up on ESG
[16:45 CET 22-12] SCANDINAVIA – Three pension companies from Finland, Norway and Sweden have joined together as the Nordic Engagement Cooperation (NEC) to coordinate engagement activities with companies on environmental, social and governance (ESG) issues.
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NewsNPRF to pay for €5.5bn bank bailout
[16:40 CET 22-12] IRELAND – The Irish government has confirmed it is to invest an initial €5.5bn into three banks, though the National Pension reserve Fund (NPRF) could earn up to €500m a year from the deal as it is expected to be the "main source of funding" for the ...
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NewsABP and PFZW skip indexation
[16:35 CET 22-12] NETHERLANDS - Neither the large civil service pension fund ABP nor healthcare scheme PFZW will grant their participants an indexation payment for 2009.
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NewsMadoff fraud costs pension funds €44m so far
[16:30 CET 22-12] EUROPE – Only a handful of European pension funds have declared an indirect investment interest in the recent Madoff 'Ponzi' scheme, fraud but the potential losses to date are now understood to be in the region of at least €44m.
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NewsDanish pensions cut interest rates to 2.5%
[16:50 CET 19-12] DENMARK – Two Danish pension funds have confirmed the interest rates on customers' pension accounts will be cut to 2.5% in 2009.
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NewsDNB hints at change to liability discounting
[16:45 CET 19-12] NETHERLANDS - Dutch pensions regulator De Nederlandsche Bank has hinted it might reconsider the way pension funds must calculate their liabilities.
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NewsHedge fund specialists to buy SGAM UK
[16:35 CET 19-12] UK – Société Générale Asset Management has sold its London-based asset management subsidiary to GLG Partners Inc for an undisclosed sum.
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NewsOnly workers to receive BPF Bouw indexation
[16:15 CET 19-12] NETHERLANDS – Officials at BPF Bouw, the €23bn pension fund for the building industry, have announced pensioners will not receive indexation on their retirement plans and only working members will be allocated a partial indexation payment this year because the fund is below its required cover ratio.
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NewsIrish listed pension deficits hit €3.5bn
[15:50 CET 19-12] IRELAND – Irish listed companies with defined benefit schemes have pensions accounting deficits worth approximately €3.5bn or 12-14% of their market capitalisation, suggests analysis conducted by Attain Consulting.
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NewsVarma sells telecoms stake to Finnish gov't
[15:20 CET 19-12] FINLAND – Varma Mutual Insurance Pension Company has sold almost 10% of its shares in telecoms company Elisa Oyj to the Finnish government, in the completion of an earlier agreement.
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NewsBT staff vote to accept pension changes
[15:15 CET 19-12] UK – Members of the BT Pension Scheme involved in consultative ballots with the trade unions Connect and the Communication Workers Union (CWU) have voted to accept the pension package unveiled by the company earlier this year.
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NewsIreland eases DB funding over market worries
[15:00 CET 19-12] IRELAND – The Irish government has announced a series of measures designed to ease funding pressures on defined benefit (DB) schemes following the recent market volatility.
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NewsDiscount range leaves firms with accounting choice
[17:00 CET 18-12] EUROPE – Recent distortions to corporate bond yields, particularly among bonds in the financial sector, means the range of discount rates available to value pension liabilities could see results differing by around €2.5bn, Lane Clark & Peacock (LCP) has revealed.
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NewsGlasgow university seeks actuarial and admin support
[16:55 CET 18-12] UK – The University of Glasgow is seeking one or more providers for actuarial and consultancy services and scheme administration and related services for its pension scheme for non-academic staff.
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NewsRSA to develop low cost pension option
[16:50 CET 18-12] UK – The Royal Society for the Encouragement of the Arts Manufacture and Commerce (RSA) has confirmed it intends to develop a business plan for a new low-cost pension fund which it believes will fill a gap in the market.
