IPE's Ireland Coverage – Page 24
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News
SIPTU threatens strikes in call for new pension system
[16:50 CEST 20-04] IRELAND – SIPTU, the Services, Industrial, Professional and Technical Union, has warned discussions with the government on a national recovery plan will need to address the issue of workers in occupational schemes losing their pension through company insolvency, or any lack of agreement could lead to fresh ...
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News
IASS has €628m deficit - SIPTU
[16:25 CEST 17-04] IRELAND – An estimated 40% fall in the value of its top equity holdings has caused the funding level of the Irish Airlines (General Employees) Superannuation Scheme (IASS) to move from a €79m surplus to a €628m deficit, a trade union has claimed.
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NewsNPRF falls to €15.5bn as Q1 returns -6.7%
[17:00 CEST 09-04] IRELAND – The National Pension Reserve Fund (NPRF) has posted a return of -6.7% for the first quarter of 2009, and figures show almost a quarter of the fund's assets are now invested under the direction of the Minister of Finance as part of the bank recapitalisation ...
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NewsIreland takes uni pensions to boost treasury coffers
[17:00 CEST 08-04] IRELAND – The government has confirmed the assets and liabilities of certain university pension funds and non-commercial state agencies will be transferred to the Exchequer to improve the General Government Balance (GGB) of Ireland.
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NewsAIB faces further talks over €1bn deficit
[17:15 CEST 06-04] IRELAND – Negotiations between AIB and the Irish Bank Officials Association (IBOA) may be referred to the Labour Relations Commission (LRC), as AIB has proposed changes to its defined benefit (DB) scheme saw to help tackle a pension deficit exceeding €1bn.
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News
Lawyers highlight obstacles to Irish DB cost cutting
[16:35 CEST 03-04] IRELAND – Law firm A&L Goodbody has warned pension schemes which are considering capping benefits or even the "unthinkable" of altering accrued pension need to be aware of the legal issues involved.
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Country ReportLocal bias extracts a price
When the Irish stock exchange was booming, domestic equities were the place to be. But many pension funds were slow to diversify and this is reflected in their returns, finds George Coats
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Country Report
Shelved, not forgotten
The Green Paper on pensions was supposed to play a key role in the evolution of Irish pensions policy but the market and economic crises have seen it drop off the government’s agenda. George Coats assesses whether it still has any relevance in the new situation
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Country Report
Putting the focus on regulation
Regulation was one the main issues mentioned in responses to the government’s Green Paper on Pensions, with many submissions focusing on the funding standard for DC pension schemes. “There were always potential problems around the issue of the funding standard and it has become a lot more real now,” says ...
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Country Report
The Leaving of Ireland
What happens when transient workers who have paid into Irish pension funds return home? Gail Moss investigates
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Country ReportFears of added financial burden
Opinion is divided on the practicalities of setting up a pension protection scheme in Ireland, finds Julie Henderson
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Country ReportPrevailing winds on lifeboat scheme
The establishment of a State Annuity Fund has been under debate for some years. Philip Shier explains the arguments
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Country ReportAge of responsibility
The Pensions Ombudsman has warned pension fund trustees that they must understand their investment risks. Nyree Stewart assesses their evolving role
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Country Report
State eyes on the piggy bank
Ireland’s pensions reserve fund was seen as a success but now the government wants to raid its assets to refinance troubled banks, finds George Coats
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Country Report
Taking the hit
Domestic asset managers were sheltered by pension funds’ local bias, although international players were making inroads. George Coats samples opinions on a possible post-crisis landscape in asset managemenmt
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Features
Sovereign funds under pressure
Sovereign pension funds (SPFs) have emerged in recent years as part of governments’ moves to ensure they had enough financing to cover state pension obligations without relying on pay-as-you-go tax schemes. In recent months, however, two of Europe’s largest government schemes - Norway’s Government Pension Fund - Global and the ...
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News
ISEQ pension deficit estimated at €7.8bn
[15:45 CET 16-01] IRELAND – The aggregate deficit in pension schemes belonging to companies on the Irish Stock Exchange (ISEQ) increased to €7.6bn, according to latest estimates by Mercer.
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News
€16m cash injection cuts IAA deficit by €6.5m
[16:20 CEST 28-04] IRELAND – The Irish Aviation Authority has reduced the deficit on its defined benefit scheme by only €6.5m, despite additional cash contributions of more than €16m in 2007.
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News
€20bn scheme ‘eyes Irish pension pooling’
IRELAND – State Street says it has received enquiries from multinational corporations, some with pension assets of up to €20bn, about setting up a pension pooling deal in Ireland.
