IPE's Ireland Coverage – Page 23
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NewsIrish managed funds gain 27.5% in seven months
[17:05 CEST 05-10] IRELAND – The performance of Irish managed pension funds improved for the seventh month in a row as they returned an average 2.6% in September, according to figures from Rubicon Investment Consulting.
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Three in four Irish workers expect retirement delay
[16:00 CEST 25-09] IRELAND/UK – The financial crisis is causing workers to think about delaying retirement, with almost three-quarters of Irish employees claiming they cannot afford to retire, research from Peninsula Ireland has revealed.
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Pensions Ombudsman maintains legal pressure on employers
[16:40 CEST 16-09] IRELAND – The Pensions Ombudsman is continuing to place pressure on employers to co-operate with its investigations and comply with pensions obligation, after attaining the successful prosecution of another employer in the construction industry.
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Irish public sector pensions hit €108bn
[17:00 CEST 11-09] IRELAND – The accrued present value of public sector pension liabilities was estimated at €108bn at the end of December 2008, according to figures from the Comptroller and Auditor General (C&AG).
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Pensions Board prosecutes firm over funding certificate
[17:15 CEST 08-09] IRELAND - The Pensions Board has successfully prosecuted an engineering company for failing to submit an actuarial funding certificate for its pension fund within the required time frame.
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Irish managed funds return 3% in August
[16:45 CEST 03-09] IRELAND – Irish managed pension funds have produced a positive return for the sixth month in a row, resulting in an average return of 14.5% in the first eight months of 2009.
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FeaturesIreland: Crisis spurs change
Nyree Stewart assesses regulatory changes to Ireland’s pension system
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Ulster and RBS salary cap plans ignite unions
[17:15 CEST 26-08] UK – Planned changes by Ulster Bank and its parent company Royal Bank of Scotland to its defined benefit (DB) schemes, such as capping pensionable salary at 2% or the rate of inflation have met with resistance from trade unions.
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Irish funds rose 6% in July
[16:40 CEST 06-08] IRELAND – Irish managed funds reported a positive performance for the fifth month in a row, after they returned of 6% in July.
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AIB aggregate deficit exceeds €1.2bn
[15:00 CEST 05-09] IRELAND – The pensions deficit of Allied Irish Banks (AIB) - one of the institutions recapitalised by the National Pension Reserve Fund (NPRF) - rose by more than €150m in the first half of 2009, to €1.26bn.
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Positive Q2 pushes NPRF above €19bn
[16:15 CEST 23-07] IRELAND – The National Pension Reserve Fund (NPRF) has grown in value by almost €4bn as it posted a second quarter investment return of 9.4%.
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Irish pensions paybill to hit €2bn in 2009
[16:55 CEST 14-09] IRELAND – The net cost of pensions to the Irish Exchequer increased by 56.5% between 2004 and 2009 to reach almost €2bn, figures from the department of finance have revealed.
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NewsIreland may be better off with first pillar
[16:55 CEST 10-07] IRELAND - The collapse in asset values of Irish pension funds has strengthened the arguments for pay-as-you-go (PAYG) financed pensions rather than funded ones, according to a senior finance lecturer at Dublin’s Trinity College.
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Irish investment strategy 'too risky'
[14:15 CEST 06-07] IRELAND – The investment strategy of many Irish pension funds was "too risky" and is why around 90% of schemes failed to meet the funding standard last year, the Pensions Board has claimed, and why some are unable to meet liabilities of existing pensioners if the scheme ...
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Irish managed funds post fourth consecutive gain
[17:05 CEST 02-07] IRELAND – Irish managed pension funds returned an average of 0.5% in June, resulting in an overall positive six months for the sector, Hewitt Associates has revealed.
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IAA deficit almost trebles in 2008
[17:25 CEST 11-05] IRELAND – The Irish Aviation Authority (IAA) has admitted its pension deficit is the "most significant challenge" to its finances in 2009, as its pension shortfall has almost trebled to €146.6m in 2008.
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Irish managed funds find positive ground
[16:30 CEST 05-05] IRELAND – Irish managed funds posted a second consecutive month of positive returns with an average yield in April of 8.7%, according to Hewitt Associates.
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ESB deficit increases €600m in 2008
[17:00 CEST 27-04] IRELAND – The €2.4bn Electricity Supply Board (ESB) pension scheme has a deficit of almost €2bn following the collapse of investment markets in 2008.
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Irish gov't urged to extend Pension Board powers
[14:30 CEST 24-04] IRELAND – The Pensions Board should have similar powers to the UK Pensions Regulator allowing it to force solvent companies to address pension deficits before the firm is sold, the Services, Industrial, Professional and Technical Union (SIPTU) has claimed.
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IBOA members reject AIB pension plans
[16:15 CEST 21-04] IRELAND – Negotiations between AIB Group and the Irish Banking Officials Association (IBOA) are being referred to the Labour Relations Commission (LRC) after members voted to reject the bank's proposals on pay and pensions.
