Funding – Page 40
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News
NEST granted £329m contingency to meet new regulations
UK government pledges a ‘contingent liability’ but other firms call for clarity on NEST’s status as a public body
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NewsNetherlands roundup: ABP to appeal over military pension ruling
Also: Regulator AFM to focus on communication from schemes facing cuts
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Austrian pension funds post 5.3% average loss for 2018
Funds hit by equity volatility but long-term average remains over 5%
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Accounting roundup: IASB plans changes to hybrid scheme rules
Plus: EFRAG and IASB to report later this year on hybrid discount rate rule; FRC audited Patisserie Valerie accounts
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DB consolidators pose covenant trade-off questions for trustees: study
Trustees must weigh strength of existing sponsor covenant against replacement financial covenant
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New USS valuation could slash deficit, ‘notably’ lower contributions
Pension scheme seeks employer views on 31 March 2018 valuation, including raising retirement age
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Equity slump increases chances of cuts at Dutch schemes
Funding down by 4 percentage points to 104% on average in December, as UK also experiences declines
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NewsUK schemes in race against time to deal with GMP ruling
Actuaries warn companies and schemes have very little time left to deal with the impact of October’s equality ruling
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NewsSwiss regional parliament agrees to split €4bn pension fund
Canton of Wallis/Valais to close its public Pensionskasse and inject CHF1.35bn
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Netherlands roundup: FedEx to cut TNT Express pension fund
Plus: APG exits SME loans fund; ANWB scheme considering joining general pension fund
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USS: Further delay to funding agreement risks regulatory action
Universities scheme proposes completing 2017 valuation without incorporating joint expert panel’s recommendations
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Swiss statistics office delivers final pension fund results for 2017
Net investment returns double those of 2016, according to the Bundesamt für Statistik
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German Pensionskassen, BaFin in ‘uncharted territory’ over solvency
Three Pensionskassen in talks with German regulator over 2017 losses, more might follow
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Energy transition ‘could seriously hit funding of Dutch schemes’
Coverage could drop by up to 17 percentage points over a five-year period, according to Sprenkels & Verschuren
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Cardano: Brexit deal failure ‘could see deficits soar by a third’
DB schemes’ collective shortfall could increase dramatically if withdrawal agreement fails, and improve if it passes
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UK roundup: FTSE 350 companies ‘could de-risk at low or no cost’
Also: Rentokil Initial seals £1.5bn buy-in with PIC; Listed companies’ combined shortfall improved in November
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Challenges remain for PPF despite funding improvements
More than half of UK schemes are underfunded, with an aggregate deficit of £115bn
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NewsPort workers demand compensation for merger impact
Pensions insurer Optas to lose entitlement to reclaim dividend tax
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NewsABP to increase contribution rate to 24.9% [updated]
Social partners wanted premium rise anticipating more prudent expectations for returns
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USS prepares fresh valuation as employers accept more risk
UK’s biggest pension scheme aims to put forward new contribution rates in February to resolve long-running dispute
