Funding – Page 139
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News
One in four Swiss plans are underfunded – Swisscanto
[15:45 CET 29-01] SWITZERLAND – A survey of over 400 Swiss pension funds conducted by Swisscanto has found two-thirds of public schemes and 20% of private plans were underfunded at the end of 2009.
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Dutch pensions giants see returns improve further
[15:20 CET 28-01] NETHERLANDS - The €86bn healthcare scheme PFZW and the €33bn metal pension fund PMT saw their investments return 4.2% and 2.5% respectively in the fourth quarter, leading the schemes to deliver overall results of 17.6% and 14.8% for 2009.
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News
Quoted equities boost Etera fund value in 2009
[17:15 CET 27-01] FINLAND – Better than anticipated sales of pensions and a positive performance in listed equities saw Etera Mutual Pension Insurance Company increase the value of its assets by around €300m in 2009.
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Pension transfers and equities boost Finnish providers
[16:55 CET 26-01] FINLAND – A €37m increase in insurance transfers under the Employees Pensions Act (TyEL) and a large position in Finnish equities helped improve the position of Veritas in 2009.
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Irish Ombudsman sees leap in fund value complaints
[16:45 CET 26-01] IRELAND – Complaints to the Pensions Ombudsman about pension fund values increased by 71% from 2008, and many of these were related to investor concerns about fund values.
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Strong return raises SPMS cover ratio by 20%
[17:00 CET 25-01] NETHERLANDS - The €5bn pension fund for medical consultants SPMS saw its cover ratio rise by almost 20 percentage points last year on the back of a 17% return.
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News
Luzern moves one step closer to pension recovery
[16:30 CET 25-01] SWITZERLAND – An advisory body to the regional parliament of the canton of Luzern has recommended officials approve proposed pensions recovery measures but introduce a time limit in which this must be achieved.
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News
Equities and hedge funds boost Finland’s Fennia
[15:00 CET 25-01] FINLAND – Preliminary results for Pension Fennia, one of the largest pension insurance providers in Finland, revealed equities returned a massive 33.7% on investments while hedge funds delivered 16.4% in 2009.
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News
Bank of Ireland reviews DB scheme over €1.5bn deficit
[16:15 CET 22-01] IRELAND – The Bank of Ireland (BOI) – one of two banks benefiting from the recapitalisation by the National Pension Reserve Fund (NPRF) - has confirmed it is in the early stages of a review of its defined benefit (DB) pension scheme.
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News
Ports in a storm over who pays pensions contributions
[16:05 CET 22-01] UK – Trustees behind a pension fund for marine pilots have launched a complex legal case has begun in the UK High Court to determine the definition of an employer for the purpose of funding pension scheme liabilities, and the point at which an employer stops being an employer.
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News
ABP unveils 20% return and strategy changes
[16:25 CET 21-01] NETHERLANDS - The €201bn civil service scheme ABP saw investment returns hit 20.2% in 2009, and is working under a new investment strategy, according to officials.
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News
Icelandic pension fund assets estimated at €10bn
[16:20 CET 21-01] ICELAND – An increase in the value of domestic securities and Housing Financing Fund (HFF) bonds led Icelandic pension fund assets to rise by ISK18.8bn (€105.2m) in November 2009.
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News
Outsourcing trend drives Varma growth
[16:15 CET 21-01] FINLAND – Varma Mutual Insurance Pension Company saw its assets increase to €29.9bn by the end of 2009 after securing a number of new pension contracts from the university sector.
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News
Investment timing was key to Ilmarinen's 16% return
[16:55 CET 19-01] FINLAND – Ilmarinen pension insurance company has attributed a positive return of 15.8% in 2009 to the allocation and the timing of its investment strategy.
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News
Irish gov't gets final say on exclusion from PIPS
[16:50 CET 19-01] IRELAND – Pension schemes, businesses and employers that have "wilfully contributed" to a pension scheme deficit or insolvency could see the pension fund excluded from the new Pension Insolvency Payment Scheme (PIPS).
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News
Swiss pension returns average 11% in 2009
[16:45 CET 18-01] SWITZERLAND – Swiss Pensionskassen returned an average of 10.8% and 11.56% last year, depending on the data calculation method selected.
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News
Levensmiddelen and SBZ grant indexation
[15:45 CET 15-01] NETHERLANDS - The industry-wide pension funds for care insurers and food articles have also granted their participants part indexation payments, following fast improving cover ratios.
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News
Austrian pension funds return 9%
[15:30 CET 15-01] AUSTRIA – The average return of Austria's 17 Pensionskassen was 9% in 2009, the pension fund association FVPK has revealed.
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News
Hungarian pension funds return over 20%
[16:15 CET 13-01] HUNGARY – Hungarian mandatory pension funds have made up for the losses suffered in 2008 by returning 21.3% on average over the past 12 months.
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News
UK defined benefit pensions pull back deficits
[15:15 CET 12-01] UK – UK corporate pension schemes last year gained approximately 10.6% of the losses suffered during 2008 as figures presented by the Pension Protection Fund suggest defined benefit funds amassed £827.7bn (€922.5bn) in assets by the end of 2009.
