All IPE articles in December 2008 (Online) – Page 3
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NewsRailways scheme to pay 2% indexation
[17:00 CET 15-12] NETHERLANDS - The €10bn railways pension fund SPF will be the first large pension fund to pay its 74,000 participants an indexation for 2008.
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NewsExpert supports full-funding holiday
[16:50 CET 15-12] SWITZERLAND – A Swiss pension consultant is supporting a call by Swiss centre-left politicians to postpone putting money into the Pensionskasse Basle-City during the current economic crisis.
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NewsDefuse pensions time bomb, warns employers' group
[16:40 CET 15-12] UK – The Confederation of British Industry (CBI) has called for an independent commission to analyse the assumptions and the ballooning real cost of public sector pensions.
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NewsGeroa tackles regulator on domestic equity
[16:35 CET 15-12] SPAIN – Geroa Pentsioak, the €712m defined contribution pension fund set up to complement the Spanish state pension scheme for the employees in Basque Country region of Gipuzkoa, is challenging its regulator for more investment freedom.
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NewsPIC snags remaining Thorn
[16:30 CET 15-12] UK – Pensions Insurance Corporation, the insurance-based pensions buyout provider, has agreed a deal with trustees of the £1.1bn pension fund for former Thorn employees to take on the pensions liabilities and top up the benefits to members.
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NewsRescue packages tap pension fund reserves
[15:45 CET 15-12] NORWAY/IRELAND – The governments of both Norway and Ireland have announced plans to draw money from their national pension reserves for fiscal stimuli early next year.
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NewsMP asked for fresh vote over pension guarantee
[15:30 CET 15-12] DENMARK – Around 700 members of Denmark's MP Pension claim they feel cheated of their investments and are calling for a fresh election concerning their interest rate guarantee.
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News'Go with the bond curve', say Dutch actuaries
[17:15 CET 12-12] NETHERLANDS – The Dutch Actuarial Association has advised pension funds they can now invoke an exemption rule of Dutch pensions law which allows them to use the bond curve rather than the swap curve to calculate the value of their liabilities.
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NewsShell’s funding ratio tumbles
[17:10 CET 12-12] NETHERLANDS – The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
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NewsFunds advised to 'back-end load' pensions recovery
[17:05 CET 12-12] UK – The Pensions Regulator (TPR) has advised pension funds to do what they can to avoid extending pension recovery periods in the onslaught of recession but instead negotiate higher sponsor payments for the end of the term.
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NewsGlasgow begins bonds search
[16:40 CET 12-12] UK - Officials managing the £9.24bn (€10.3bn) Strathclyde pension fund have begun the search for a bond manager who could eventually look after up to £800m.
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NewsVenice mulls pension money for local infrastructure
[16:30 CET 12-12] ITALY – The local government of the Veneto region in the North-East of Italy is considering using the resources of its local pension funds to finance regional infrastructure projects.
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NewsSwiss parliament rallies behind rate cut
[16:00 CET 12-12] SWITZERLAND – The smaller chamber of the Swiss parliament (Ständerat) has now agreed the conversion rate of second pillar pensions should be cut to 6.4% by 2015 in light of the financial crisis.
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NewsABP and VBL work together on border scheme
[15:50 CET 12-12] GERMANY/ NETHERLANDS – ABP, the €193bn Dutch pension fund for civil servants, and VBL, the €13bn German public sector supplementary insurer, are working together to create a new scheme for a Dutch-German border hospital.
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NewsPensions market pushes for private equity self-regs
[15:30 CET 12-12] NETHERLANDS - Mn Services, the €65m service provider for the large metal pension schemes PME and PMT, has initiated a drive for increased self-regulation by private equity firms and hedge funds and delivered key recommendations through a consultation with the industry.
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NewsMarket turmoil drives change for Ilmarinen
[17:25 CET 11-12] FINLAND - Ilmarinen Mutual, the Finnish pension fund with €23.7bn in assets under management, is making the first tactical and minor strategic changes to its investment strategy as a result of the economic turmoil.
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NewsElkarkidetza halves equity allocation
[17:20 CET 11-12] SPAIN – The Bilbao-based Elkarkidetza, the pension fund for Basque Country provincial and local government employees, has cut its equity exposure from 32% to 15% this year amid market turmoil.
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NewsTo fund or not to fund now – a Basle question
[17:15 CET 11-12] SWITZERLAND – Parties in the Swiss canton of Basle city are divided over the question whether or not to postpone payments to the pension fund in light of the current financial crisis.
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NewsPensions is biggest employee concern for 2009
[17:10 CET 11-12] GLOBAL – A survey of HR professionals about the provision of employee benefits in 2009 has revealed retirement provision is now the greatest concern to employees, according to Mercer.
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NewsMarket crisis wipe $5trn from pensions
[16:55 CET 11-12] GLOBAL – Falling stock markets has wiped $5trn (€4trn) off the value of private pension plans across the world, and approximately two-thirds of that applies to US funds only, The Organisation for Economic Cooperation and Development has suggested.
