Funding – Page 140
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News
Northern Rock creates separate pension plan for future accrual
[17:00 CET 11-01] UK – Northern Rock is launching a new pension plan for existing active members which offers the same benefits and terms as an existing £367.5m (€408.6m) defined benefit pension plan but then leaves past liabilities with the division known as the ‘bad bank’.
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News
Dutch schemes performed ahead of recovery plans
[16:00 CET 11-01] NETHERLANDS - Dutch pension fund cover ratios pulled back somewhat last year after suffering significant losses in 2008, to an average 111% by the end of 2009, research from Hewitt Associates has claimed.
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News
SPOV and Schilders grant indexation
[16:55 CET 08-01] NETHERLANDS - The financial position of the €2.3bn pension fund for public transport SPOV and the €3.3bn scheme for painters and decorators has improved so much on the previous yea's performance that both pension plans can grant their participants indexation for 2010.
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News
Bank recapitalisation assets hold back Irish state fund returns
[16:50 CET 07-01] IRELAND – The National Pension Reserve Fund grew by almost 11.6% in the final quarter to €22.3bn, preliminary end of year figures from the National Management Treasury Agency (NTMA) have revealed.
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UK roundup: State Street, MP pensions, Fujitsu, Linklaters, Aero Engine
[15:30 CET 07-01] UK – Preliminary figures from State Street's defined benefit (DB) scheme results survey show an average 15% return, while the MP's pension scheme has appointed a legal adviser. Workers at Fujitsu are organising further strikes over the firm's pension scheme closure, Linklaters is to close its DB ...
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News
Dutch pensions aim to win over sceptical public
[15:15 CET 07-01] NETHERLANDS - The Dutch Association of Industry-wide Pension Funds (VB) has launched a media campaign after research suggested a large majority of the public is very critical about pension fund investment strategies.
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News
DNB approves ANWB recovery plan at fourth attempt
[15:00 CET 07-01] NETHERLANDS - Pensions regulator De Nederlandsche Bank (DNB) has approved a fourth version of the recovery plan of the pension fund of the motorists' organisation ANWB.
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News
Dutch pension funds begin to pay indexation
[16:15 CET 06-01] NETHERLANDS – Dutch pension funds provided by KLM and Fortis Bank will pay their members full indexation this year on the back of improved investment performance.
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News
Irish managed funds rebound 20% in 2009
[16:35 CET 05-01] IRELAND – Irish managed pension funds clawed back some of the losses suffered in 2008 and produced a return of more than 20% in 2009, according to figures from consulting firms.
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News
PMA scheme pulls back to grant full indexation of 3.25%
[16:30 CET 05-01] NETHERLANDS - The pension fund for Dutch pharmacy staff (PMA) has granted its participants full indexation of 3.25% as the scheme now has a cover ratio of 133%.
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News
UK pension funds predicted to return 14% in 2009
[16:00 CET 05-01] UK – The average UK pension fund produced an estimated weighted 14% average return on investments in 2009, compared with -13.8% return the previous year, according to figures from BNY Mellon Asset Servicing.
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NewsDutch cover ratios rise to 109% - DNB
[15:45 CET 04-01] NETHERLANDS - The cover ratio of Dutch pension funds improved by an average seven percentage points to 109% during the third quarter of 2009, according to pensions regulator De Nederlandsche Bank (DNB).
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NewsLife expectancy reduces PfZW indexation
[15:30 CET 04-01] NETHERLANDS – PfZW, the €84bn Dutch industry-wide pension scheme for healthcare workers, has granted its two million participants part indexation of 0.72% - lower than in previous years as officials at the pension fund anticipate life expectancy will rise in the future.
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NewsKLM scheme to grant 2.5% indexation
[15:15 CET 23-12] NETHERLANDS - The €5bn pension fund for KLM flight staff will grant all its participants a full indexation of 2.5%, following the relevant salary index.
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News
Usual suspects top list of nations needing pension reform
[12:00 CET 22-12] EUROPE – Greece, Slovenia and Spain have topped a list compiled by Allianz Global Investors (AGI) of the most unsustainable pensions systems in Europe.
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News
UK roundup: ONS and Public Sector Pensions Commission
[14:00 CET 21-12] UK – The net investment of self-administered pension funds fell by £7.9bn (€8.9bn) in the third quarter of 2009 to total just £2.8bn, the Office of National Statistics has revealed.
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News
Ten confirmed to join Swiss Ascoop fund
[16:50 CET 18-12] SWITZERLAND – The Ascoop spin-off fund to be created next year will be named Symova and will initially see 10 companies join it.
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News
Norwegian pension funds declined 4.4% in 2008
[16:40 CET 18-12] NORWAY – Norwegian pension funds had a combined deficit of NOK4.7bn (€560m) in 2008, according to latest figures from Statistics Norway.
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NewsDutch railways scheme keeps recovery on track
[16:15 CET 18-12] NETHERLANDS - The €10.3bn railways scheme SPF will grant its participants full indexation of 2.07% from the beginning next year, but the metal workers’ scheme PMT has failed to recover enough to consider it.
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News
Housing fund SPW returned 8% in Q3
[16:55 CET 17-12] NETHERLANDS - The €4.8bn pension fund for housing corporation SPW saw its cover ratio rise by 6.5 percentage points to 103.4% in the third quarter of this year, thanks to an 8% return on investments.
