Funding – Page 34
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News
Swedish pension funds slam draft IORP II solvency rules
Folksam, AMF and Alecta home in on proposals for traditional guaranteed pensions while industry association says ambiguities in the draft must be addressed
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NewsABP and PFZW headed for early pension cuts as funding level crashes
Collapsing interest rates caused funding to fall through the minimum level of 90%, meaning millions of Dutch savers face pension cuts from next year
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NewsSwiss pension funds’ alternatives allocation hits double digits [updated]
Complementa study also finds that pension funds will have to cut benefits to close the gap between required returns and forecast returns
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NewsSwedish pensions lobby says new IORP II rules too close to Solvency II
The regulator has revised its timetable for the implementation of IORP II, pushing the deadline back to January 2020 – a year after it was supposed to come into force
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NewsRothesay Life to raise £500m in preparation for DB insurance deals
Plus: Legal & General has insured a UK law firm’s £35m scheme, transferring from its fiduciary management business
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News
Dutch Pensions Federation rings alarm bells over looming disaster [updated]
Industry organisation calls for urgent consultations between minister and pensions sector to prevent serious damage to system
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NewsSwiss pension funds facing negative discount rates
Company pension schemes may need to use negative rates to discount liabilities – mean obligations could rise by around 15%
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News
UK DB scheme deficit hits two-year high amid Brexit uncertainty
The combined DB pension funding shortfall across the UK’s biggest 350 listed companies increased by £16bn during August
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News
Collapsing interest rates put Dutch schemes in danger zone
The 30-year swap rate dropped by 43 basis points in August, leading to the average coverage ratio falling from 102% to 98%
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USS deficit hits £6.6bn as chief exec warns on market outlook
Staff and employers have been unable to agree contribution levels – and recent market volatility could require them to pay even more
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NewsFall in yields deals solvency blow to Danish pension providers
A change to liability calculations for Danish pension providers and insurers has had a significant impact on the companies’ solvency ratios
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NewsSwiss minimum interest recommendation disappoints pension funds
Multi-stakeholder expert body recommends government set minimum accrual rate at 1%, 50 basis points higher than the level called for by Asip
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NewsFunding level at large Dutch funds reaches critical limit
The funding level of industry-wide pension funds in the Netherlands fell to an average of 96.9% in July, according to DNB, with five below the critical 94.7% level
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News
Swiss municipal pension schemes face funding shortfalls: analysis
Pension fund for city of Lucerne has funding in excess of 100%, while Lausanne’s coverage ratio was 64.2% in 2018, according to Avenir Suisse analysis
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News
University staff warn of fresh strike action over contributions [updated]
Employers welcome proposal from USS’ Joint Negotiating Committee but union rejects higher costs for scheme members
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News
One fifth of UK schemes in ‘weak’ position by TPR standards
Hymans Robertson analysis finds just 11% of schemes have a “strong” sponsor covenant, while one in five trustees has or expects to experience regulatory intervention
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NewsDutch pensions reform ‘threatens healthy schemes’: SPH chair
Chairman of GPs’ pension scheme warns that sharing out funding surpluses among participants would be “unworkable and undesirable”
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Pension liabilities set to rise as mortality falls in first half
Analysis from longevity experts at Club Vita indicates that longevity improvements could be on the rise again – which means DB scheme costs could increase
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News
L&G backs ‘innovative’ buy-in for Hitachi UK pension scheme
The data and technology company’s scheme has insured members’ benefits, preserving an unusual DB-DC hybrid arrangement
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News
€3bn Dutch pharmacy staff scheme reduces risk profile
PMA reduces equities allocation from 50% to 40% in favour of fixed income, lifts interest rate hedging to 40%
