Funding – Page 90
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News
Royal Mail reports pension surplus after liability transfer
UK – Annual report sees IAS 19 surplus after government assumes legacy liabilities.
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News
Aer Lingus to put €140m pension proposal to shareholders
IRELAND – Airline hopes extraordinary general meeting can be held later in year.
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News
PPF shift to bespoke insolvency risk model 'could increase transparency'
UK – Towers Watson says model catered to PPF’s needs could be more open with how companies are assessed.
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News
Strong markets lift average funding at Dutch schemes to at least 104%
NETHERLANDS – Threat of additional rights cuts still looms, consultancies warn.
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News
Dutch scheme cuts rights 'straight away' after funding drops
NETHERLANDS – Growing number of pension funds falling short of 105% minimum coverage ratio.
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News
UBS 'freezes' defined benefit pension fund in UK [updated]
EUROPE – Closure appears to be linked with drive to comply with Basel III capital requirements.
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News
Dutch Cabinet unveils proposals for new financial assessment framework
NETHERLANDS – ABP claims proposed FTK will do little to help stabilise contributions or discount rate.
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NewsSPMS reorganises 'disappointing' alpha portfolio
NETHERLANDS – Dutch pension fund reduces number of managers after six years of poor results.
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News
PPF benefit cap changes to add £140m to levy
UK – Increased cost, estimated through 2030, to be borne by those paying lifeboat scheme’s levy.
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News
Pension Protection Fund 'big enough' to accommodate UK Coal liabilities
UK – UK Coal in talks with creditors following forced closure of major mine in March.
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NewsFalling equity markets drag Dutch coverage ratios to 102%
NETHERLANDS – Mercer attributes drop to investor uncertainty over future of QE measures.
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NewsEquity portfolio SAP wins inaugural IPNederland Award
NETHERLANDS – SPF Beheer portfolio returns more than 13% annually since inception in 2009.
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NewsMerging nominal pension rights into real contract 'feasible', says PFZW
NETHERLANDS – Director admits dissatisfied participants will 'probably sue' pension fund.
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News
Irish pensions reform 'inevitable' after Waterford Crystal ruling
IRELAND – IBOA union highlights dangers of current pension framework in letter to government.
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News
Advisory panel sends pension reform recommendations to French government
FRANCE – Government-commissioned report recommends limit on pensions indexation
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NewsRabobank scheme makes foray into non-euro government bonds
NETHERLANDS – Portfolio to include bonds from Australia, Canada and Switzerland.
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News
Irish schemes see 'slight uplift' as domestic equity returns 4%
IRELAND – Results for May see assets gain in value, but liabilities kept high by low yields.
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NewsDutch schemes should take supervision conclusions to heart – DNB
NETHERLANDS – Dutch regulator says quality of visitation reports must also be improved.
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NewsDutch giant ABP may need to cut rights again despite strong 2012 returns
NETHERLANDS – 'Significant' chance recent 0.5% cut not enough to achieve minimum funding.
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News
Irish government criticised for 'extraordinary' DB funding changes
IRELAND – Government amends risk reserve one month prior to funding proposal deadline.
