Funding – Page 136
-
News
UK roundup: PPF chair, C&W Worldwide, Paternoster
UK – The Pension Protection Fund (PPF) has appointed a new chairman, while the pension fund of Cable & Wireless Worldwide has awarded Eversheds a legal services contract and Paternoster has reported improved capital reserves.
-
News
Bank of Ireland changes may cut deficit by 50%
IRELAND – The Bank of Ireland has proposed changes to its defined benefit (DB) scheme that it claims could halve the €1.6bn accounting deficit in the scheme.
-
News
Swedish roundup: Kåpan Pensioner, AI Pension, Survey on Swedish pensions interest
SWEDEN – Kapan Pensioner recovered its investments to deliver a double-digit positive return in 2009, having lost over 15% in 2008. Its rival AI Pension followed close behind with an 11% gain. And a Swedish survey has revealed over half of the population care about their pensions.
-
News
UK roundup: BA, Lincolnshire, West Sussex, the AA
UK – British Airways (BA) and Iberia have signed a merger agreement subject to BA and the trustees agreeing a "satisfactory" deficit recovery plan. Meanwhile Lincolnshire County Council has appointed global equity managers and West Sussex has awarded a global custody mandate.
-
News
Latvia admits second pillar contributions too high
LATVIA – Contributions to the Latvian mandatory second pillar will remain at 2% for 2010 and then increase to 4% next year, reaching 6% in 2012.
-
News
Investment returns improve Finnish pension solvency levels
FINLAND - Finnish pension insurance companies improved their solvency levels in 2009 as a result of good investment returns that were boosted by equities.
-
News
Irish managed funds edge towards 6% in Q1
IRELAND - Irish managed pension funds returned an average of 5.8% in March, to produce an overall first quarter return of 5.9% on investments.
-
News
CBI calls for Swedish-style shift on UK public sector pensions
UK - Public sector pensions in the UK have become "unsustainable", with an estimated unfunded liability of £1.01trn (€1.14trn), according to the UK Confederation of British Industry (CBI). But one solution proposed is a move to a Notional Defined Contribution (NDC) system similar to one applied in Sweden.
-
News
Dutch pension assets rose 10% in 2009 - DNB
NETHERLANDS - The combined assets of Dutch pension funds increased by 10% to €743bn in 2009, after a decrease of 17% during the previous year, according to pensions regulator De Nederlandse Bank (DNB).
-
News
German court rules employers must top up outsourced pensions
GERMANY – A regional German court has ruled an employer must compensate retired former employees if the Pensionskasse they are signed up to eventually cuts employees’ benefits.
-
News
Cadbury members offered new pension scheme or pay freeze
UK – Kraft, the new owner of chocolate manufacturer Cadbury, is attempting to woo staff away from the final salary pension fund and into a career average scheme by warning those who do not move could face a three-year pay freeze.
-
News
UK roundup: North Yorkshire, PSTS and employer covenants
UK – North Yorkshire County Council has appointed an investment consultant for its local government pension scheme.
-
News
Pension funds recovering faster than expected - DNB
NETHERLANDS - Dutch pension funds have seen their recovery plans pull back considerably faster than anticipated last year, according to pensions regulator De Nederlandsche Bank.
-
News
NPRF may have to further subsidise AIB
IRELAND – The National Pension Reserve Fund (NPRF) may have to invest further capital into Allied Irish Bank (AIB) in the form of ordinary equity shares, the minister of finance has confirmed.
-
News
Multinationals 'unaware of overseas pension costs' – Allianz
GLOBAL – Multi-national companies are forfeiting up to 15% of the risk premium by not coordinating the various employee benefits plans of their overseas subsidiaries, according to Dirk Hellmuth, head of Allianz International Employee Benefits Network (All Net).
-
News
WM universe sees Dutch pensions generate 14.6%
NETHERLANDS – A study of over 100 Dutch pension funds has found the average pension fund saw a “partial recovery” in 2009 thanks in the main to a rise in the value of assets, led by equities, rather than from a decrease in liabilities.
-
NewsIrish roundup: IBOA and Ulster Bank, Garda pension levy
IRELAND – The Irish Bank Officials Association (IBOA) is planning to take its fight against Ulster Bank’s decision to change pension accrual rates to further arbitration, following a breakdown in the mediation process.
-
NewsUK pensions body proposes rethink on retirement benefits
UK – The UK’s National Association of Pension Funds (NAPF) had today called for a radical overhaul of existing UK pensions terms, in a bid to increase pensions coverage but at the same time ease funding pressures on employers.
-
NewsUK roundup: ITV, Loganair
UK – ITV has agreed a funding plan with trustees for the deficit of its defined benefit (DB) scheme after a completed partnership arrangement with trustees in relation to its SDN subsidiary cut the pension deficit by £124m (€138m).
-
NewsTelia Sonera Pension funds return 12.5% in 2009
SWEDEN - Following the general trend in the Nordic region, Telia Sonera’s pension funds retuned 12.5% for 2009 compared to a loss of 8.5% in 2008.
