Funding – Page 121
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NewsValtion Eläkerahasto posts strong returns on back of stocks
Finnish state pension fund sees Nordic equity portfolio grow by more than 30%.
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NewsUK regulatory focus on funding shortfalls 'increases risk'
Pension schemes taking unnecessary risks to resolve funding shortfalls, Hymans Robertson warns.
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NewsSwiss pension scheme Publica to cut conversion rate
Pension fund for civil servants to lower conversion rate to 6.15% in light of government's new longevity assumptions.
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NewsSwedish roundup: SPK, Alecta, Collectum
SPK, the pension fund for the Swedish savings institutions, returned 8.5% for 2010.
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NewsDenmark's Lærernes awards State Street $271m bond mandate
EUROPE – State Street Global Advisors (SSgA) has been awarded a $271m (€201m) US bond portfolio by Denmark's Lærernes Pension.
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NewsFinland's Varma, Tapiola Pension reject euro-zone bonds
Finland's largest pension fund shunned troubled euro-zone bonds in a strategy that returned 11%.
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NewsUK roundup: NEST, Mercer, Aviva, PIC
Members of NEST will be offered a Sharia-compliant investment option as part of the funds' makeup.
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NewsDutch film pension scheme to merge with PNO Media
NETHERLANDS – The €3.3bn pension fund PNO Media and the €152m scheme for the Dutch film and cinema industry have announced their intention to merge.
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NewsSkandia's Danish pension operations, PKA boosted by equities
DENMARK – High equity allocations boosted the investment return at Skandia's Danish pensions operations last year, taking asset values back to their pre-financial crisis levels.
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NewsBaby boomer wave will 'capsize' Austrian pension system
AUSTRIA – The peak of the baby boomers retirement wave will upend the Austrian state pension system by 2025, Allianz has warned.
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NewsDutch metal scheme PMT 'unlikely' to cut pension benefits
NETHERLANDS – The financial position of the €37bn Dutch metal scheme PMT has recovered to such a degree that a benefits cut in early 2012 will be unlikely, according to Jan Berghuis, employees chairman.
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NewsOne in three Dutch pension schemes considering liquidation
NETHERLANDS – One in three Dutch company pension funds is seriously considering liquidation and joining an insurer, as they are finding it increasingly difficult to cope with ever tighter and complex regulation, a survey by KPMG has suggested.
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NewsSwiss roundup: Swisscanto on funding levels, Publica results
SWITZERLAND – Funding levels at Swiss Pensionskassen last year returned to where they were in 2009 following a steep drop in the second quarter, Swisscanto has calculated.
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NewsPensions for Dutch harbour workers get 13.5% boost
NETHERLANDS – Approximately 30,000 former port workers will see their pension benefits increased by more than 13.5% in the wake of a long-running dispute over Aegon's takeover of Optas, their pension provider.
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2010 funding ratios derailed by volatility – Aon Hewitt
EUROPE – Funding ratios have fallen across Europe due to volatile bond markets, according to new figures from Aon Hewitt.
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NewsUK roundup: Pensions Regulator, Mercer, Pizza Hut, Deloitte
UK – The Pensions Regulator (TPR) has confirmed Bill Galvin as its new chief executive only a few weeks after Michael O'Higgins took over as chairman from David Norgrove.
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NewsUK roundup: Royal Mail Pension Plan, Aon Hewitt, Sun Chemical
UK – Parliament has approved a bill that will see the state shoulder the burden of Royal Mail's £8.4bn (€9.3bn) pension deficit, as legislation to privatise the institution gathers pace.
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NewsDutch roundup: IBM, pharmacy workers, Actuarial Society
NETHERLANDS – The €3bn Dutch pension fund of electronics giant IBM has granted its participants in defined benefit plans an indexation of almost 2.8%.
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NewsUK roundup: Pensions bill, Sackers, NAPF
UK – Legislation for the switch from the retail price index (RPI) to the consumer price index (CPI) is likely to be more restrictive than initially anticipated, pension law firm Sackers has said.
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NewsCredit Suisse index for Swiss pension funds returns 2.9%
SWITZERLAND – A sample of 100 Swiss pension funds returned 2.93% on average in 2010, according to the Pensionskassen index compiled by Credit Suisse.
