Funding – Page 145
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News
Ageing population costs to 'dwarf' recent crisis - EC
[16:55 CEST 15-10] EUROPE – European Commission officials have produced a report which claims the ability to meet public pensions liabilities is a higher long-term risk for governments than ever before and in most cases reform of member states’ pensions systems is desperately needed.
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Romanian pension returns climb as reform continues
ROMANIA – The average Romanian pension fund has generated a return of 13% in the first nine months and maintained a 17.4% return since the end of last year, when the economic crisis really hit most pension funds, according to figures from the Romanian Pension Funds Association (APAPR).
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Switzerland leaves minimum pension rate at 2%
[15:20 CEST 14-10] SWITZERLAND – The Swiss government set the minimum rate for second pillar pension funds at 2% for 2010.
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Dutch Co-op cover ratio rises by a third
[11:00 CEST 14-10] NETHERLANDS – The €141m Dutch Co-op Pension Scheme has seen its solvency ratio rise to 146% - an increase of 33% from its nadir at the end of February this year at 113%.
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News
ITV plans to use subsidiary as contingent asset
[16:45 CEST 13-10] UK – ITV, the UK commercial television station, has revealed it is in discussions with the trustees of its £2.15bn (€2.29bn) defined benefit (DB) scheme to use the assets of its wholly owned subsidiary SDN Limited to help plug the growing pension deficit.
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News
UK DB funding roundup: deficits reduced in September
[16:15 CEST 13-10] UK – Increases in asset values and higher gilt yields improved the aggregate funding position of UK defined benefit (DB) schemes by almost £25bn (€26.7bn) to leave deficits at £148.9bn at the end of September, according to the Pension Protection Fund (PPF).
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News
Aer Lingus eyes DC scheme to avoid major balance sheet damage
[16:55 CEST 10-12] IRELAND – Aer Lingus is proposing to introduce a new defined contribution scheme for all staff in an attempt to avoid having to change its accounting practices to defined benefit (DB) rules that would add "significant" liabilities to its balance sheet.
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News
Tax changes to Icelandic pensions could be 'hazardous'
[17:05 CEST 09-10] ICELAND – Proposals by the opposition political party, the Independence Party, to alter the taxation of pension fund savings has been described as "hazardous" by both the Icelandic Pension Funds Association (IPFA) and the Confederation of Icelandic Employers (SA).
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News
Romania aims for pension reforms by December
ROMANIA – Draft pension reform laws, including increases in retirement age and elimination of 'special' pensions of certain public sector workers, has been published by the Romanian government with the aim of implementing it by the end of December to comply with agreements with the International Monetary Fund (IMF).
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News
NPRF pulls back on 2008 losses
[17:00 CEST 08-10] IRELAND – The Irish National Pension Reserve Fund has significantly pulled back its investment returns since the beginning of the year and delivered a total positive gain of 8.9% under its new asset allocation structure.
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News
Slovak funds see turnaround in Q3
SLOVAKIA – Slovak funds have further strengthened their positive return base for 2009 thanks to a 0.6% investment return in the third quarter, according to data published by the pension fund organisation ADSS.
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NewsSwedish MPs pensions to keep unfunded DB structure
[16:00 CEST 08-10] SWEDEN - Reforms of the pension provision for the Swedish members of parliament will not now change the current unfunded defined benefit structure.
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NewsCommission on Retirement must halt pension delays - IAPF
[15:00 CEST 08-10] IRELAND – The Irish Association of Pension Funds has called on the government to establish a Commission on Retirement to update the assumptions underlying Ireland's two-year old Green Paper on Pensions, following the recent changes in the economic environment.
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NewsDanica calls for full disclosure of pension costs
[16:53 CEST 07-10] DENMARK - The managing director of Denmark’s Danica Pension promised full disclosure of the company’s pension costs and said legislation may be called for if others do not follow suit.
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NewsDanish women to retire early
[16:02 CEST 07-10] DENMARK - Women in Denmark are much more likely to retire early than men, according to a study carried out for pensions provider PFA Pension.
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NewsAustrian pension funds report 7% return
[17:10 CEST 06-10] AUSTRIA – In the first nine months of this year the 19 Austrian pensionskassen returned 7.35%, according to the pension fund association FVPK.
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NewsIrish managed funds gain 27.5% in seven months
[17:05 CEST 05-10] IRELAND – The performance of Irish managed pension funds improved for the seventh month in a row as they returned an average 2.6% in September, according to figures from Rubicon Investment Consulting.
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News
Today’s babies to become 100 year-old pensioners
[15:00 CEST 05-10] GLOBAL - A new longevity study has predicted that most babies born today will live to celebrate their 100th birthdays in many industrialised countries.
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News
Danish insurer-led pensions are cheaper - F&P
[14:45 CEST 02-10] DENMARK - The running costs of Denmark’s mandatory labour market pension schemes have fallen by around 12% since 2002, but company schemes remain far more expensive and have hardly reduced costs at all, according to new industry figures.
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News
IBM modifies pension changes after UK member backlash
[16:55 CEST 01-10] UK – Unite, the trade union, has claimed IBM will delay changes to their UK final salary pension scheme following a "backlash from thousands of employees", though argued the revisions do not go far enough.
