Funding – Page 35
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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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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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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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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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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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€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%
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Dutch schemes headed for rights cuts after dramatic funding drop
Pension funds’ coverage ratio declined by four percentage points in the first week of August
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Dutch regulator’s pension fund aims for 30% outperformance on ESG
Pensioenfonds De Nederlandsche Bank also plans to reduce its carbon footprint by 10% relative to benchmark, and cut controversial weapons and tobacco from its investment universe
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NewsDe-risking deals totalled £17.6bn in H1: LCP
Legal & General and Pension Insurance Corporation dominated the market for buy-ins and buyouts in the first six months of 2019, and the total for the full year is set to be a record
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UK roundup: The best and worst industries for employer contributions
Also: The Pensions Regulator authorises DC master trusts run by Aon and Railpen
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‘Link investment policies to scheme demographics’, says trustee
Schemes’ investment policies should be geared to the age of a scheme’s population, says Dutch pension trustee Paul de Geus
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UK universities back fresh funding proposal for USS
Employers backing the UK’s largest pension scheme agree to measures supporting lower contribution rates, including a moratorium on exits
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Tobacco giant seals £3.4bn pension de-risking deal with PIC
Transaction accounts for the bulk of British American Tobacco’s UK DB pension fund, and is Pension Insurance Corporation’s biggest deal to date
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Dutch scheme funding declines during second quarter
Total assets across 229 pension schemes rose by €55bn, but liabilities were pushed €96bn higher by falling interest rates
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Alcatel-Lucent scheme’s liquidation to last until 2023
Parent company Nokia will continue to compensate the pension fund for terminating its contract in 2011, while contributions will be channelled to members since transferred to PME
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Dutch multi-employer scheme backtracks on consolidation plan
Multi-company schemes have fallen out of favour in recent years with the rise of APFs – Pensioenfonds Pon is the last remaining in the Netherlands
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€3.2bn Delta Lloyd scheme assessing options following NN acquisition
The scheme’s board has decided against merging with NN’s CDC scheme but could move to an APF, stay independent, or opt for a buyout with an insurer
