Funding – Page 170
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News
9% of DB schemes avoided risk levy
[16:00 CET 23-12] UK – One in 11 of the schemes eligible for entry into the Pension Protection Fund (PPF) paid no risk-based levy in the 2007/08 year, according to figures from the third version of the Pensions Universe Risk Profile (PURPLE) Book.
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News
Delta Lloyd scheme grants full indexation
[15:30 CET 23-12] NETHERLANDS - The €1.4bn pension fund of insurer Delta Lloyd Group has granted its participants full indexation for 2009.
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News
VB to look into its members’ costs
[15:15 CET 23-12] NETHERLANDS - The Dutch association of industry-wide pension funds (VB) has commissioned a study into the costs of its 82 members in a bid help affiliated schemes compare the charges they incur.
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News
NPRF to pay for €5.5bn bank bailout
[16:40 CET 22-12] IRELAND – The Irish government has confirmed it is to invest an initial €5.5bn into three banks, though the National Pension reserve Fund (NPRF) could earn up to €500m a year from the deal as it is expected to be the "main source of funding" for the ...
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News
ABP and PFZW skip indexation
[16:35 CET 22-12] NETHERLANDS - Neither the large civil service pension fund ABP nor healthcare scheme PFZW will grant their participants an indexation payment for 2009.
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News
Danish pensions cut interest rates to 2.5%
[16:50 CET 19-12] DENMARK – Two Danish pension funds have confirmed the interest rates on customers' pension accounts will be cut to 2.5% in 2009.
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News
Only workers to receive BPF Bouw indexation
[16:15 CET 19-12] NETHERLANDS – Officials at BPF Bouw, the €23bn pension fund for the building industry, have announced pensioners will not receive indexation on their retirement plans and only working members will be allocated a partial indexation payment this year because the fund is below its required cover ratio.
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News
Varma sells telecoms stake to Finnish gov't
[15:20 CET 19-12] FINLAND – Varma Mutual Insurance Pension Company has sold almost 10% of its shares in telecoms company Elisa Oyj to the Finnish government, in the completion of an earlier agreement.
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News
Ireland eases DB funding over market worries
[15:00 CET 19-12] IRELAND – The Irish government has announced a series of measures designed to ease funding pressures on defined benefit (DB) schemes following the recent market volatility.
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News
APW expands inflation bonds margin
[18-12] NETHERLANDS - The €678m pension fund of media company Wegener (APW) has widened the investment window for inflation-linked bonds, as part of a recovery plan to tackle underfunding.
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News
Polish funds deliver worst result ever
POLAND – Assets in polish pension funds were down -6.8% in October alone, making it the worst month in the history of the system.
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News
BPF Schilders postpones indexation
[15:35 CET 16-12] NETHERLANDS - BPF Schilders, the pension fund for the painting, glazing and finishing sector, will not grant its members an indexation payment in the short-term, but will reconsider its decision next summer.
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News
Railways scheme to pay 2% indexation
[17:00 CET 15-12] NETHERLANDS - The €10bn railways pension fund SPF will be the first large pension fund to pay its 74,000 participants an indexation for 2008.
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News
Shell’s funding ratio tumbles
[17:10 CET 12-12] NETHERLANDS – The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
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News
To fund or not to fund now – a Basle question
[17:15 CET 11-12] SWITZERLAND – Parties in the Swiss canton of Basle city are divided over the question whether or not to postpone payments to the pension fund in light of the current financial crisis.
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News
Germans claim to believe in long-term profit
[17:05 CET 08-12] GERMANY – Only 10% of Germans have changed their private pension provision on the back of the financial crisis, a survey by JPMorgan has found.
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NewsIreland allows two-year annuity deferral
[15:15 CET 05-12] IRELAND – Members of Irish defined contribution (DC) occupational schemes have been given the option of deferring for two years the need to buy an annuity at retirement.
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NewsDanica to cut pension interest to 1.5% in 2009
[17:15 CET 04-12] DENMARK – Danica Pension, the DKK 241bn (€32.36bn) pension arm of Danske Bank, has announced it will pay a net interest rate of 1.5% for all customers with Danica Traditional pension plans.
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NewsFinnish pensions may require more risk-taking
[17:00 CET 03-12] FINLAND – The Bank of Finland has warned uncertainty about its ageing population and potential future tax rises of over 5% could destabilise the entire welfare state and lead to a future reduction in social services and transfers.
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NewsDanish pension interest could fall to 4%
[16:20 CET 03-12] DENMARK – Forsikring & Pension, the Danish Insurance Association, has warned pension customers are likely to see interest on their accounts fall below the base rate to at maximum of 4.5% in 2009.
