Funding – Page 146
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News
Macedonian funds grow 4% in H1
[16:30 CEST 01-10] MACEDONIA – The Republic of Macedonia’s two funds of the mandatory pensions system returned 3.7% and 4.3% respectively over the first six months.
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PPF cap reduction 'punishing' 90% of UK schemes
[15:30 CEST 01-10] UK – Proposals by the Pension Protection Fund (PPF) to halve the cap on the risk-based levy could be seen as a punishment by the other 90% of schemes which are not affected by the change, consultants have warned.
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News
Recovery allows Danica to improve pension terms
[16:10 CEST 30-09] DENMARK - Danica Pension, part of Denmark’s Danske Bank, has raised the account yield on its traditional pension plan and lifted the transfer penalty it introduced last autumn to deal with underfunding.
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News
Finnish pensions may recover quickly
[17:05 CEST 29-09] FINLAND – Finnish pension insurance companies may see investment incomes in 2009 recover the significant losses from last year quicker than expected, although there is still a need for people to work longer, Ilmarinen has claimed.
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News
MNOPF completes £500m buy-in with Lucida
[16:55 CEST 29-09] UK – The Merchant Navy Officers Pension Fund has completed a £500m (€548m) buy-in with insurer Lucida, covering the pension liabilities of 22,000 retired members.
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News
Pension fund takes share of Jessops in debt swap deal
[16:45 CEST 29-09] UK – Jessops, the chain of UK photographic stores, has been saved from administration by a deal which will see trustees of its defined benefit pension plan as well as an unnamed employee benefits trust take the majority stake in the company.
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News
Industriens gains lift from equity exposure
[16:00 CEST 29-09] DENMARK - Industriens Pension, the Danish pension fund, generated an investment return of 16% in the first eight months of this year, with the growth largely won on the back of its increasing exposure to equities.
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News
UK pension investment rose £3.4bn in Q2
[17:05 CEST 28-09] UK – Self-administered pension funds increased net investment by £3.4bn (€3.7bn) in the second quarter of this year, according to latest figures from the Office of National Statistics (ONS).
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News
Dutch funds can maintain expectations - for now
[15:50 CEST 28-09] NETHERLANDS - Piet Hein Donner, minister for Social Affairs and Employment in the Netherlands, has decided that Dutch pension funds can continue to use the same maximum expected returns on investments as they have used in the past three years to calculate the level of pension contributions ...
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News
Danes predict state pensions to fade like the dodo
[15:30 CEST 28-09] DENMARK - Confidence in the Danish basic state pension has faded because of perceived pressure on the public purse, as a new poll suggests 50% of younger working women believe the state pension will not exist when they retire.
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News
Finnish pension providers show strength in recession
[16:35 CEST 25-09] FINLAND – Finanssivalvonta, the Finnish Financial Supervisory Authority (FIN-FSA), has claimed the country's financial sector could cope with a "very severe recession", following the results of stress tests on the capital adequacy of banks and pension insurance companies.
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News
Three in four Irish workers expect retirement delay
[16:00 CEST 25-09] IRELAND/UK – The financial crisis is causing workers to think about delaying retirement, with almost three-quarters of Irish employees claiming they cannot afford to retire, research from Peninsula Ireland has revealed.
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News
Pensionskassen are 'confident' about Austrian court action
[15:45 CEST 25-09] AUSTRIA – Austrian opposition parties have called on the constitutional court to look into the law on pension funds following last year’s investment losses, but the pension fund association is confident the action will be dismissed.
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News
UK: WPP default fund charges 'should have stakeholder cap'
[17:00 CEST 24-09] UK - The default fund in workplace personal pensions (WPP) will need to carry charges below the current stakeholder pension level if they are to qualify for auto-enrolment, according to draft guidance published today by the UK government.
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News
Row over Swiss funding levels
[16:50 CEST 24-09] SWITZERLAND – Many pension funds are back to full funding after a significant market recovery in the first half of 2009 but Swiss experts say widely differing calculations on average 2008 funding levels have left them confused as to what pension funds' true funding levels are.
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News
Bulgaria may offer multifunds in 2010
[16:35 CEST 24-09] BULGARIA – Multi-funds, or investment portfolios with different risk profiles, could be introduced into the third pillar pensions regime next year if the government adopts a draft law by the end of 2009, the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) has revealed.
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News
LGA explores LGPS funding for schools
[16:30 CEST 24-09] UK – The executive of the Local Government Association (LGA) has authorised further investigation into the potential for establishing a collective investment fund for local authority pension schemes, so they may band together to invest in Private Finance Initiatives (PFI).
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NewsBelgium may benefit from US tax on TLP profits
BELGIUM – Policy Selection Limited (PSL), the fund management group behind the Assured Fund that invests in traded life policies, is to move the administration of the fund to Belgium to limit the impact of new withholding tax rules introduced by the US.
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NewsUK proposes flexibility on employer debt rules
[16:38 CEST 18-09] UK - Rules on how companies pay money into their pension schemes when they restructure may change under government proposals announced yesterday.
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NewsIcelandic pension funds lost 21.78% in 2008
[16:30 CEST 18-09] ICELAND – The real rate of return for Icelandic pension funds was -21.78% in 2008, while the value of net assets dropped by 6% to ISK1.6trn (€8.8bn), the Icelandic Financial Supervisory Authority (FME) has revealed.
