Funding – Page 142
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News
UK firm uses project assets to cut pension deficit
[16:50 CET 27-11] UK – Interserve, a UK services, maintenance and building group, has transferred its stake in a portfolio of 13 Private Finance Initiatives (PFI) to its £400m (€441m) pension scheme to help reduce its funding deficit.
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Irish schemes get breathing space on DB benefit cut rules
[16:40 CET 27-11] IRELAND – The Pensions Board has extended until June next year the deadline for schemes filing a funding proposal related to DB benefit reduction. But the Irish Business and Employers Confederation (IBEC) claimed the guidance is still too strict.
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UK pension funds demand more long-dated bond issuance
[16:30 CET 27-11] UK - Four-fifths of UK pension funds want to see the government issue more long-dated and index-linked gilts as a way of guaranteeing returns. This follows a year where the number of defined benefit (DB) schemes remaining open to new members fell to an all-time low.
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Dutch pension funds remain ‘vulnerable’
[13:00 CET 27-11] NETHERLANDS – The Dutch pensions supervisor, De Nederlandsche Bank (DNB), has reported in its November financial stability report that the financial situation of pension funds remains vulnerable, writes Mariska van der Westen for our Dutch sister publication IPN. The DNB says that funds have not yet recovered, ...
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Irish pensions framework to have lead-in time
[16:50 CET 26-11] IRELAND – Mary Hanafin, minister of social and family affairs, has admitted the National Pensions Framework being developed by the government will not be introduced immediately, in order to minimise pressure on the pension industry.
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LCP study confirms wide variances in discount rates
[16:45 CET 26-11] EUROPE - The discount rates used by some of the world’s largest listed companies varied wildly last year when measuring the value of their European pension funds for accounting purposes, according to a report by Lane Clark & Peacock.
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UK roundup - Essex, Strathclyde, Equitable Life and Telent
[16:00 CET 25-11] UK – Essex County Council is re-tendering the contract for investment consultants to its pension fund, while Strathclyde is tendering three property mandates.
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News
Norway should resume full payment to Global Fund - IMF
[16:45 CET 24-11] NORWAY - The IMF has warned the Norwegian government that it should resume full payment of oil revenues to the Government Pension Fund - Global by reducing the country's non-oil budget deficit to 4% of the Global Fund's value, and within the three remaining years of its ...
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News
BPF Bouw restores indexation
[15:30 CET 24-11] NETHERLANDS - The recovery of BPF Bouw, the €26bn pension fund for the Dutch building industry, has been so successful this year that it is now planning to grant all participants indexation of 1.45% from next year.
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News
PNO Media cover ratio edges upwards
[15:00 CET 23-11] NETHERLANDS - The €2.8bn pension fund PNO Media saw its cover ratio rise to 100.9% during the third quarter of this year, thanks to a 10.1% return on investments.
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German employer contributions stabilise at 20%
[13:30 CET 23-11] GERMANY – The German government’s pension report for 2009 has revealed that employer contributions to pensions will remain stable at 19.9 % until 2014, despite the current economic crisis.
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Pensions threatened by six-hour daily longevity increase
GLOBAL - People are gaining on average six hours per day in life expectancy, which dramatically highlights the need for pensions solutions, delegates were told at an IPE Awards Seminar keynote speech on living with longevity.
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News
PFA increases market share as it posts 5.1% return
[16:30 CET 20-11] DENMARK - PFA Pension saw its market share increase in the first nine months of the year despite reporting a fall in gross premium income.
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NewsC&W to split UK scheme as part of demerger
[14:00 CET 18-11] UK – Cable & Wireless has confirmed its UK defined benefit (DB) pension scheme will be split in half as part of the demerger of its worldwide arm.
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News
Pensions focus 'must shift to liability benchmarking'
[13:30 CET 18-11] NETHERLANDS – One impact of the credit crisis on pension funds is the growing importance of risk management and a focus on moving towards using scheme liabilities as the ultimate benchmark, according to Jan Willem van Stuijvenberg.
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Pension deficits underestimated by European firms
[16:55 CET 16-11] EUROPE – Over 30 major European firms have underestimated their pension obligations by more than 40%, according to research from AlphaValue.
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NewsABP's improved funding prompts indexation payout
[16:45 CET 16-11] NETHERLANDS - The €180bn civil service scheme ABP will grant its participants indexation of 0.45% in 2010, as its funding ratio has recovered to the minimum required level of 105%.
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NewsUK telecoms firms could be forced to plug BT pension
[14:00 CET 13-11] UK – UK-based telecoms companies could in future be required to indirectly contribute to the BT Group's defined benefit pension fund, as Ofcom, the communications regulator, is reviewing the pricing level of charges for BT's wholesale services to other communication companies.
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News
UK DB funding roundup: Inflation worries hit deficits
[15:00 CET 12-11] UK – The aggregate funding position of almost 7,400 defined benefit (DB) pension schemes improved by more than £50bn to a deficit of £97.6bn (€108.1bn) after updated valuation assumptions reduced liabilities by 7%, the Pension Protection Fund (PPF) has revealed.
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News
PensionDanmark’s growth kept afloat by pension transfers
[13:00 CET 12-11] DENMARK - Despite dwindling employment levels in Denmark, PensionDanmark’s premium income rose 2% year-on-year in the first nine months of the 2009, thanks to a hefty increase in pension transfers moving to the firm.
