IPE's Netherlands Coverage – Page 153
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NewsRabobank pension scheme loses 3.1% due to coverage ratio hedge
NETHERLANDS – The €11.5bn pension fund of Rabobank returned 10.5% on investments, but ultimately lost 3.1% of its assets due to its extensive strategic hedge to protect its coverage ratio.
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News€3bn Horeca fund to increase interest hedge
NETHERLANDS – The €3bn pension fund for the Dutch hotel and catering industry has decided to strategically target a 75% interest hedge on liabilities.
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NewsFalling markets, low interest rates hit larger Dutch pension schemes
NETHERLANDS – Three large Dutch pension funds – PFZW, PMT and PME – suffered from falling financial markets combined with very low long-term interest rates, resulting in marginal returns during the second quarter.
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NewsHigh interest hedge slows coverage recovery on €1.7bn Delta Lloyd fund
NETHERLANDS – The €1.7bn pension fund of insurer Delta Lloyd attributed its slowly improving coverage ratio to its 90% hedge of the interest risk on its liabilities.
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NewsSara Lee pension scheme still rebalancing assets
NETHERLANDS – The €1.1bn Dutch pension fund of consumers goods company Sara Lee is still gradually rebalancing its asset allocation, after its 40% strategic return portfolio decreased to 26% at the end of 2008.
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NewsDutch scheme slashes unconditional indexation by 20%
NETHERLANDS – The €1.8bn occupational pension plan for physiotherapists, Stichting Pensioenfonds voor Fysiotherapeuten (SPF), has slashed its unconditional indexation by 20% to raise its coverage ratio.
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NewsDutch pension fund ABP returns 4.6%, sees coverage fall to 95%
NETHERLANDS – The €218bn civil service scheme ABP returned 4.6% on investments during the first six months of 2010, but saw its coverage ratio drop to 95% in the same period.
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NewsDutch pension fund PMT postpones 'risky' investments
NETHERLANDS – PMT, the pension fund for metalworkers and mechanical engineers, has postponed new investment in relatively risky and less liquid asset classes such as private equity, international property and infrastructure.
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NewsDutch pension fund SBZ transfers administration to Syntrus Achmea
NETHERLANDS – SBZ has begun the two-year process of transferring its in-house administration and board support to pension provider Syntrus Achmea.
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NewsNedlloyd pension fund blames alternatives misery on Madoff scandal
NETHERLANDS – The €1.2bn pension fund of Dutch shipping company Nedlloyd has attributed the 15% underperformance of its alternatives investments to fraudster Bernard Madoff.
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NewsMerchant navy scheme to take stake in MN Services
NETHERLANDS – The €3bn pension fund for the Dutch merchant navy has said it will take a stake in pensions provider MN Services.
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NewsABP raises premiums again after cover ratio falls to 96%
NETHERLANDS – The €220bn civil service scheme ABP has again decided to raise its contributions temporarily by 1% to compensate for the drop of its cover ratio to 96%.
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NewsTNO scraps 'disappointing' tactical asset allocation
NETHERLANDS – The €2bn pension fund of TNO, the Dutch Institute for Applied Science, has axed its 2.7% global tactical asset allocation (GTAA) within a year due to "disappointing" performance.
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Dutch recovery plans need higher pension ages and contributions: OECD
NETHERLANDS – Increasing life expectancy and the recent financial crisis are threatening the solvency of the second-pillar pension system in the Netherlands, leading to a need for changes to the style of recovery plans, the OECD has warned.
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Dutch postal pension fund to hedge interest risk through swaptions
NETHERLANDS – The Dutch postal pension fund TNT will limit its risk by gradually increasing its 75% interest hedge on its liabilities to full cover.
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Hewitt: Most Dutch pension funds failing to meet minimum cover ratios
NETHERLANDS – The cover ratio of most Dutch pension funds has fallen to less than the 105% minimum required by the government, according to Hewitt Associates.
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Dutch DC providers still fail on cost transparency – AFM
NETHERLANDS – Insurers still do not provide sufficient clarity about the costs they charge on defined contribution (DC) arrangements, causing overly high retirement expectations among members, according to the Netherlands Authority for the Financial Markets (AFM).
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KPN scheme lowers fixed income risk profile
NETHERLANDS – The pension fund of telecoms firm KPN reduced its exposure to government bonds of eurozone and emerging economies last year in a bid to reduce its risk profile.
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Opinion Pieces
Pension contracts and regulation
Robert C Merton and Jan Snippe argue that Dutch pension legislation should be inspired by fresh and logical thinking
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News
Defined ambition should replace defined benefit – PGGM
NETHERLANDS – A new ‘defined ambition’ concept should replace defined benefit (DB) arrangements, according to a leading Dutch pensions actuary.
