Funding – Page 160
-
News
Ilmarinen sees positive results in Q1
[14:00 CEST 23-04] FINLAND – Ilmarinen Mutual Insurance Company has reported a positive first quarter return of 0.2%, as fixed income investments performed well.
-
News
SHPS extends benefit options as deficit passes £600m
[13:00 CEST 23-04] UK – The Social Housing Pension Scheme (SHPS) is to offer a defined contribution (DC) option to employers for the first time after the latest valuation revealed its deficit had increased to £633m (€715m) at the end of September 2008, from £209m the previous year.
-
News
Future provision threatened by early pension access - OECD
[12:00 CEST 23-04] GLOBAL – The OECD has warned future pension provision could be undermined by giving early access to pension funds to aid people in “severe economic difficulties” alongside access to national pension reserves.
-
News
EC to focus on member protection at insolvency
[17:00 CEST 22-04] EUROPE – The European Commission (EC) is seeking a contractor to help it further investigate measures for protecting supplementary pension benefits in the event of employer insolvency.
-
News
Germans prepare for lower pension
[16:45 CEST 22-04] GERMANY – The number of Germans who think they will have to cut expenses at retirement is on the rise, while fewer people are willing to save privately for their pension, research has suggested.
-
News
Hoogovens' recovery enacted despite hedge
[16:30 CEST 22-04] NETHERLANDS - Falling interest rates as well as an negative returns on equities caused the cover ratio of Stichting Pensioenfonds Hoogovens to fall from 135.8% in 2007 to 105.5% a year later, even though the scheme had applied a sizeable interest rate hedge.
-
News
Railways scheme's buffers hit by losses
[16:10 CEST 22-04] NETHERLANDS - SPF, the large pension fund for the railways sector, lost 19.2% on investments last year, while its assets dropped from €12bn to €9.5bn and the cover fell to 121%.
-
News
UK Budget cuts higher rate tax relief (updated)
[14:25 CEST 22-04] UK – Alistair Darling, chancellor of the Exchequer, has confirmed tax relief on pension contributions for high earners will be reduced from 40% to 20% from April 2011.
-
News
BPF Bouw is confident of recovery
[14:00 CEST 22-04] NETHERLANDS - BPF Bouw, the €24.2bn scheme for the building industry, expects to eliminate its funding shortfall within three years by raising contributions and halting indexation.
-
News
Reed Elsevier boosts its pension fund coffers
[16:50 CEST 21-04] NETHERLANDS – Publishing house Reed Elsevier will pay €54m into its pension fund over the coming five years, to support measures taken to restore the funding shortfall of the scheme.
-
News
Publica loses another 1.43%
[16:35 CEST 21-04] SWITZERLAND – The Swiss Pensionskasse for civil servants Publica returned -1.43% in the first three months of this year.
-
News
SHPS to review benefits in light of valuation
[16:20 CEST 21-04] UK – The Social Housing Pension Scheme (SHPS) is to consult with members about possible new benefit options and contribution rates later this year as it expects the actuarial valuation will reveal increased costs.
-
News
IBOA members reject AIB pension plans
[16:15 CEST 21-04] IRELAND – Negotiations between AIB Group and the Irish Banking Officials Association (IBOA) are being referred to the Labour Relations Commission (LRC) after members voted to reject the bank's proposals on pay and pensions.
-
News
SIPTU threatens strikes in call for new pension system
[16:50 CEST 20-04] IRELAND – SIPTU, the Services, Industrial, Professional and Technical Union, has warned discussions with the government on a national recovery plan will need to address the issue of workers in occupational schemes losing their pension through company insolvency, or any lack of agreement could lead to fresh ...
-
News
Ukraine to receive second IMF instalment after reforms
UKRAINE – A mission from the International Monetary Fund (IMF) confirmed it has recommended the second tranche of a loan should be paid to Ukraine following the implementation of budget reforms which include the balancing of the state pension fund.
-
News
MEP's pension faces reforms to cut deficit
[17:15 CEST 17-04] EUROPE – Members of the ABSL voluntary pension fund for Members of the European Parliament (MEPs) have been told they will have to retire later, as part of a number of reforms aimed at reducing the growing pension deficit.
-
News
Swedish pension firms underestimate life expectancy
[16:50 CEST 17-04] SWEDEN – An annual review of the technical provisions of 17 pension and life insurers by pensions regulator Finansinspektionen (FI) has revealed they suffered a deficit of more than SEK 17bn (€1.55bn) at their peak, although SEK15bn of this had been recouped by the end of 2008.
-
News
IASS has €628m deficit - SIPTU
[16:25 CEST 17-04] IRELAND – An estimated 40% fall in the value of its top equity holdings has caused the funding level of the Irish Airlines (General Employees) Superannuation Scheme (IASS) to move from a €79m surplus to a €628m deficit, a trade union has claimed.
-
News
TNO recovery requires no major change
[16:10 CEST 17-04] NETHERLANDS - The €1.8bn pension fund of TNO expects to recover from its cover shortfall by raising its contributions and refraining from paying indexation.
-
News
Finnish pensions had 'worst year' in 2008
[16:55 CEST 16-04] FINLAND – Suomen Pankki, the Bank of Finland, has revealed 2008 was the "worst year in the history of employee pension schemes", following the slump in equity prices.
