Funding – Page 168
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News
Finnish local government fund drops 20% in 2008
[16:20 CET 19-01] FINLAND – The Local Government Pensions Institution (LGPI) has reported an overall investment return in 2008 of -20%, the worst figure in the institution's history.
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Recovery rules may force premiums up
[16:15 CET 19-01] NETHERLANDS - Pension funds could be forced to increase their pension contributions further in a bid to meet the recovery plans rules of regulator De Nederlandsche Bank, consultancy firm Hewitt Associates has suggested.
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Camden fulfils first stage of restructuring
[14:00 CET 19-01] UK – Camden County Council has completed the first phase of its portfolio restructuring and confirmed the appointment of four new investment managers.
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News
ING grants indexation despite low cover ratio
[12:00 CET 19-01] NETHERLANDS - The €10bn pension fund of Dutch finance giant ING is still able to grant full indexation to its members, despite a shortfall on its required financial reserves.
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Isle of Man to consult on unifying public pensions
[16:30 CET 16-01] UK – The Isle of Man has confirmed it will begin a three-month consultation next month over proposals to replace 15 of the island's 20 public sector pension plans with a new unified scheme.
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Polish Treasury worried about Eureko
POLAND – The current situation of Dutch insurer Eureko was “a cause for concern for the Polish people” given Eureko’s commitment to the Polish market, the Treasury said in a statement.
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News
ISEQ pension deficit estimated at €7.8bn
[15:45 CET 16-01] IRELAND – The aggregate deficit in pension schemes belonging to companies on the Irish Stock Exchange (ISEQ) increased to €7.6bn, according to latest estimates by Mercer.
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News
Lausanne pension gap needs CHF350m bridge
[15:15 CET 16-01] SWITZERLAND – The Swiss city of Lausanne has proposed a CHF350m (€235.4m) injection for its ailing CHF1.09bn Caisse de Pensions de la Commune de Lausanne (CPCL) pension fund.
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News
Strategic hedge keeps Rabo scheme funding high
[14:30 CET 16-01] NETHERLANDS - The €10bn pension fund of financial giant Rabobank has kept its cover ratio far above the required funding, thanks to an extensive strategic hedge.
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News
Swiss funds hit historic returns low
[16:40 CET 15-01] SWITZERLAND – Swiss Pensionskassen posted a negative return of 13% for the full year 2008, according to preliminary calculations for the Credit Suisse Pensionskassenindex.
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News
Gov't offers Eq Life apology but limits compensation
[16:15 CET 15-01] UK – The UK government has accepted charges of maladministration in some areas relating to the near collapse of Equitable Life, but has only agreed to set up a payment scheme for policyholders "disproportionately" affected by the event.
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News
Ilmarinen lost 17% in 2008
[15:30 CET 15-01] FINLAND – Ilmarinen Mutual Insurance Pension Company has reported an annual return on investments of -17.5% in 2008, but has warned it will not look to fill the gap by "panicking and selling shares".
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News
DSM scheme refrains from indexation
[16:00 CET 13-01] NETHERLANDS - PDN, the pension fund of chemicals giant DSM, has revealed it cannot grant its participants any indexation in 2009 as the scheme is underfunded.
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News
UK deficits hit £194bn in 2008
[16:30 CET 12-01] UK – Pension scheme funding was substantially worse in the UK last year than in 2007, the Pension Protection Fund has revealed, as aggregate deficits rose to over £194bn (€ by the end of December and the total assets valued within pension funds are thought to have ...
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News
Ailing printer manufacturer to top-up pension
[16:15 CET 12-01] NETHERLANDS – Dutch printer manufacturer Océ has today unveiled an €80m savings package for the firm but revealed it will also increase the cash contribution to its ailing Dutch pension fund.
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News
Pharmacists’ pension prescribes 2% indexation
[15:45 CET 12-01] NETHERLANDS - The €1bn pension fund for pharmacies’ staff (PMA) has granted all its participants an indexation of 2% for 2009.
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NewsCEO-less Eureko taps shareholders
[16:30 CET 09-01] NETHERLANDS – Dutch insurance giant Eureko, whose chief executive stepped down earlier this month, has asked shareholders for capital to bolster solvency levels.
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NewsHalf of Swiss schemes underfunded
[16:00 CET 09-01] SWITZERLAND – The Swiss Federal Social Insurance Office has estimated that currently around half of all Swiss pension funds are underfunded.
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NewsIberia says no to BA pension fund top-up
[15:00 CET 09-01] SPAIN – Spanish carrier Iberia will not make any injection into the ailing British Airways (BA) pension fund if the companies' planned merger goes ahead, IPE has learnt.
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NewsM&S says trustees back pension curbs
[16:30 CET 07-01] UK – The trustees of the Marks & Spencer Final Salary Pension Scheme are “very supportive” of the decision announced today to curb benefits for the fund’s 21,000 members, company management says.
