IPE's CEE Coverage – Page 21
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News
Ukraine's pension deficit could reach €1.2bn
UKRAINE – Victor Yushchenko, president of the Ukraine, has warned of a growing deficit in the state pension system, which could reach UAH13bn (€1.26bn) by the end of this year.
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Ukraine to receive second IMF instalment after reforms
UKRAINE – A mission from the International Monetary Fund (IMF) confirmed it has recommended the second tranche of a loan should be paid to Ukraine following the implementation of budget reforms which include the balancing of the state pension fund.
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Russia moves on reforms as Ukraine seals IMF loan
UKRAINE – Dmitry Medvedev, president of Russia, has confirmed draft laws to change the country's pension system onto an insurance basis are being finalised, while Ukraine has implemented anti-crisis measures, including balancing of the state pension fund, to secure continued IMF funding.
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Ukraine wants to abolish senior state pensions
UKRAINE – Special pensions for judges and top-level officials should be abolished and replaced with a single pension based on salary and length of service, according to Ukraine’s president, Victor Yushchenko.
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Czech funds meet need for positive return
CZECH REPUBLIC – Only two funds in the Czech Republic private pension sector managed to generate a return above 1% last year, but all at least delivered positive performance as the other eight just scrapped the zero mark.
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Last-minute gains fail to recover Polish funds
POLAND – After reporting the worst month since inception of the system, Polish pension funds managed to return 3.6% in November and December 2008.
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News
Second pillar faith not withered yet
[16:30 CET 21-01] CEE – The current credit crisis has yet to damage people’s faith in the recently introduced funded pension systems in the CEE, suggested delegates at a conference on the region today.
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Country ReportTaking a beating
The asset management landscape in the CEE has been severely changed by the market crisis, says Krystyna Krzyzak
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Country ReportMoves to ensure payouts on time
Poland dragged its heels on some key elements of its pension reform and now it is catching up. Katarzyna Gontarczyk details the latest developments
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Country ReportFreefall into the precipice
Hungary’s economic crash came at a bad time for its private pensions sector, says Thomas Escritt
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Country Report
Regulations overhaul plans
Hungary is drafting legislation to prepare for the paying of annuities. József Banyár and Mihály Erdos explain the challenges involved in the process
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Country ReportStability from a split perspective
Last year Russia divided its sovereign wealth fund into two. James Johnson explains the roles of the two new funds
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Country ReportRussia gets to grip with ailing system
Russia’s government is aware that the pension system needs greater funding and better long-term planning, says James Johnson
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Country Report
A launch into troubled waters
Romania’s fledgling pension funds have managed to stay in positive territory, even though their creation coincided with the financial crash, notes Mihai Bobocea
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Country ReportA system under attack
While for investors market risk is a clear and present danger, political risk appears easy to overlook. But it can be just as corrosive, finds George Coats
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News
Polish Treasury worried about Eureko
POLAND – The current situation of Dutch insurer Eureko was “a cause for concern for the Polish people” given Eureko’s commitment to the Polish market, the Treasury said in a statement.
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NewsCEO-less Eureko taps shareholders
[16:30 CET 09-01] NETHERLANDS – Dutch insurance giant Eureko, whose chief executive stepped down earlier this month, has asked shareholders for capital to bolster solvency levels.
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News
Polish funds deliver worst result ever
POLAND – Assets in polish pension funds were down -6.8% in October alone, making it the worst month in the history of the system.
