Funding – Page 36
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Dutch pension system ‘in peril if interest rates remain low’, says minister
The government plans to address how low interest rates have affected the capital-funded system in a forthcoming ‘road map’ for pensions reform
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University staff threaten to boycott Cambridge college over USS withdrawal
Withdrawal from multi-employer scheme for the higher education sector will cost 2% of Trinity College’s assets; USS plays down impact on funding and covenant
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NewsAccounting roundup: Committee warns on DB-DC ‘blurred lines’
Plus: FRC maps out its plan to transition to the Audit, Reporting and Governance Authority; Change to accounting rules for multi-employer pension schemes
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NewsAuto-enrolment success masks inadequate savings rates, industry warns
More people are saving into a pension in the UK following auto-enrolment, but the amount they are saving is far short of what is needed
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UK government urged to revisit miners’ pension scheme surplus rules
Government has taken £4.4bn from excess pension assets since 1994, but MPs, trustees and scheme members have demanded changes
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Unions voice support for Dutch pensions agreement
The pensions sector can start implementing areas of the agreement after two of the Netherlands’ largest unions gave it their support
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Discount rate change to increase chances of pension cuts at Dutch schemes
Committee led by former finance minister Jeroen Dijsselbloem has recommended reducing both the ultimate forward rate and assumptions for returns
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Dutch pension sector cautiously positive about reform agreement
Low-funded schemes emphasise that danger of benefit cuts has not disappeared entirely despite this week’s progress
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NewsDutch social partners and government reach agreement on retirement age
Underfunded schemes are temporarily off the hook after the minister for social affairs agreed to temporarily relax minimum funding rules
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High street chain agrees £310m pension funding deal with regulator
Arcadia, owned by Sir Philip Green, is attempting to cut its debt bill to stave off bankruptcy and has secured the support of the Pension Protection Fund
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Most pension funds missed funding recovery targets, says Dutch regulator
Three pension funds – including giant metal and engineering sector pension funds PMT and PME – are facing benefit cuts in 2020
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Academics call for government inquiry into USS governance
More than 1,000 UK-based professors and university staff have demanded action over governance concerns at the UK’s largest pension fund
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Staff and students protest as college threatens exit from USS
Council in charge of Trinity College, Cambridge wants to extract itself from USS in a move that could cost it £30m
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NewsChart of the Week: AP7 boosts share of Swedish DC system to record 42%
Government report shows AP4 has posted the best long-term annualised return among the four main state pension buffer funds
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‘Tens of thousands’ strike on second day of pension protests in Netherlands [updated]
Major Dutch trade unions rallied this week to protest against a planned increase in the state pension age
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NewsContributions must rise for Dutch builders’ scheme, says chairman
BpfBouw is the healthiest of the Netherlands’ five biggest schemes, but still has concerns about the sustainability of its arrangements
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Booming Swedish economy boosts inflows for pension providers
Folksam and Alecta gained market share in the first quarter while Skandia and AMF experienced a dip in contributions
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NewsGerman Pensionskassen announce major cuts to reserves
Ailing Caritas and Kölner PK have agreed recovery terms with member representatives and the national financial regulator BaFin
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NewsStudy highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
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Marks & Spencer strikes fresh buy-ins worth £1.4bn with PIC, Phoenix
The UK high street chain has now insured ‘approximately two thirds’ of its pensioner liabilities to reduce exposure to longevity changes and other risks
