IPE's Nordic Region Coverage – Page 194
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News
Norway global heads towards NOK 2.2trn
[17:10 CEST 18-05] NORWAY – The Government Pension Fund – Global has increased in value for the second consecutive month to reach just under NOK 2.2trn (€250bn) at the end of April 2009.
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1 in 4 Danes to work past retirement
[17:30 CEST 13-05] DENMARK – Almost 50% of Danish workers intend to take early retirement before the age of 65, while just over a quarter plan to continue working past the normal retirement age, according to Forsikring & Pension, the Danish Insurance Association (DIA).
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Bankpension posts net loss of 19.7%
[17:25 CEST 08-05] DENMARK – Bankpension, the pension fund for employees in the Danish financial sector, has reported an “extremely unsatisfactory” result of -23.1% before tax in 2008.
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News
VER loses 2.4% in Q1
[17:25 CEST 06-05] FINLAND – Valtion Eläkerahasto, the State Pension Fund, generated a return of -2.4% in the first quarter of this year, reducing the value of its investments to €10.16bn.
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Danica Pension posts Q1 profit
[16:50 CEST 05-05] DENMARK - Danica Pension, the pensions arm of Danske Bank Group, managed to generate net income of DKK91m (€12.2m) in the first quarter of 2009, despite seeing a decline in total premiums paid.
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News
Basle City to plug pension hole
[16:45 CEST 05-05] SWITZERLAND – The CHF8.2bn (€5.4bn) pensionskasse for the Swiss canton of Basle City is to receive CHF1.38bn to ensure the pension scheme is fully-funded again.
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NewsATP loses DKK2.4bn after negative SP result
[12:30 CEST 01-05] DENMARK – ATP Group has reported an overall loss of DKK2.4bn (€322m) in the first quarter, driven primarily by a 4.3% loss in the Special Pension Savings Scheme (SP).
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News
Etera and Veritas Q1 losses stay below 2%
[16:10 CEST 28-04] FINLAND – Etera Mutual Pension Insurance Company and Veritas have reported their pension funds suffered small losses in the first quarter of 2009 of -1.4% and -1.3% respectively.
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News
Finnish self-employed are undersaving by a third
[16:30 CEST 24-04] FINLAND – A study suggests Finnish self-employed workers are not paying enough into their pension funds as the levels of self-employed persons pensions insurance (YEL) policies are about a third lower than actual annual income.
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News
Positive Q1 boosts Varma value
[13:30 CESt 24-04] FINLAND – Varma Mutual Pension Insurance company has reported a positive first quarter performance of 0.3%, although its rival Eläke-Fennia produced a slightly poorer result of -0.2%.
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News
AP1 revises ownership policy over gov't guidelines
[15:45 CEST 23-04] SWEDEN - Första AP-fonden (AP1) is planning to abstain from voting on remuneration issues for senior executives of companies it is invested in, until a decision on a revised ownership policy has been made following new government guidelines.
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News
Ilmarinen sees positive results in Q1
[14:00 CEST 23-04] FINLAND – Ilmarinen Mutual Insurance Company has reported a positive first quarter return of 0.2%, as fixed income investments performed well.
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News
Swedish pension firms underestimate life expectancy
[16:50 CEST 17-04] SWEDEN – An annual review of the technical provisions of 17 pension and life insurers by pensions regulator Finansinspektionen (FI) has revealed they suffered a deficit of more than SEK 17bn (€1.55bn) at their peak, although SEK15bn of this had been recouped by the end of 2008.
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News
Finnish pensions had 'worst year' in 2008
[16:55 CEST 16-04] FINLAND – Suomen Pankki, the Bank of Finland, has revealed 2008 was the "worst year in the history of employee pension schemes", following the slump in equity prices.
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NewsSwiss funding levels deteriorate in three months
[16:00 CEST 07-04] SWITZERLAND – Six out of 10 second pillar Swiss pension funds are now underfunded, and at least a third have less than 90% of the assets to meet their funding requirements.
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News
Luzern Pensionskasse loses 10.3%
[17:00 CEST 03-04] SWITZERLAND – The Pensionskasse for the Swiss canton of Luzern (LUPK) reported a negative result of 10.3% for 2008, as a result of massive losses from its equity and alternatives exposure.
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News
PKA reports 6.3% loss
[16:55 CEST 01-04] DENMARK – PKA generated an overall return of -6.3% for its eight pension funds in 2008 as equity results offset positive fixed income performance.
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News
PFA buys Nordic AM following positive gains
[16:15 CEST 01-04] DENMARK – PFA Pension, the Danish life and pensions provider, managed to generate a return on investments of DKK3.5bn (€460m) in 2008 thanks to a major shift towards fixed income holdings, and is now using some of its assets to buy Nordic Asset Management.
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News
Fewer Danish health workers are retiring early
[17:05 CET 27-02] DENMARK – The proportion of health workers retiring at the age of 60 fell to just 13.2% in 2008 according to research by PKA.
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News
Wealthy Danes save 18 times more - ATP
[16:30 CET 26-02] DENMARK – A small group of high-earning Danish workers had pension savings worth 18 times more than the average pension saver in 2006, according to research by pensions giant ATP.
