All IPE articles in July 2007 (Online) – Page 7
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News
Alecta returns could bring lower premiums
[15:00 CEST 23-07] SWEDEN – Alecta, the occupational pensions specialist, may reduce employer contribution premiums as improved returns in the first six months of this year have tipped its solvency ratio above the maximum required.
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SBZ reduced property stake by one-third
[15:30 CEST 23-07] NETHERLANDS – SBZ, the industry-wide pension fund for care insurers, said it has decreased its investments in property by 5% to 10% of its total portfolio and will focus its immediate attention on Dutch direct real estate.
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German construction fund bucks equity investment trend
16:00 CETS 23-07] GERMANY – ZVK, a €2.9bn Pensionskasse (insurance-type scheme) for Germany’s construction sector, was one of the few among its peers that raised its equity exposure in 2006 – another year of positive stock market returns.
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Court approves first Parmalat settlement
[16:15 CEST 23-07] GLOBAL – A New York City court, overseeing the class action in the Parmalat case, has approved the $50m (€37m) partial legal settlement related to the Italian firm’s 2003 collapse.
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Suffolk signs three firms to handle £255m in equities
[16:15 CEST 23-07] UK – Suffolk County Council Pension Fund has awarded three mandates to manage its equity investments, following a change in allocation strategy.
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LPFA moves property from UTs to mandate
[16:30 CEST 23-07] UK - The London Pensions Fund Authority (LPFA) has appointed ING Real Estate to manage a £150m (223m) global property mandate.
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IPE Quest: Dutch fund seeks emerging markets manager
[11:45 CEST 24-07] NETHERLANDS – An unnamed Dutch pension fund, aided by consultancy firm Towers Perrin in The Netherlands, is seeking a manager for a $11m (€8m) global emerging markets (GEM) equity mandate, using IPE-Quest.
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News
Italy and Finland face dividend spotlight
[12:30 CEST 24-07] EUROPE – The European Commission has taken its first steps towards action against the Italian and Finnish governments for imposing higher dividend taxes on overseas pension funds.
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Actuarial data creates £20bn mortality rate “margin” - KPMG
[15:30 CEST 24-07] UK – Differing mortality rate assumptions used by pension fund advisers could be contributing a “margin of error” in pension fund liabilities of around £20bn, suggests research.
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Austria to expand early retirement option
[16:00 CEST 24-07] AUSTRIA – The government is planning to enable more workers involved in what it defines as hard labour to apply for early retirement – albeit with initially reduced pension benefits.
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CEE pension reform fuelled growth despite IORP – Allianz
[16:45 CEST 24-07] EUROPE – Central European governments are coping better than expected with the pressures of meeting long-term pension liabilities considering the EU’s Institutions for Occupational Pensions (IORP) Directive is geared towards Western regimes, Allianz Global Investors has suggested.
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News
"New government might halt Belgian second pillar growth"
[16:45 CEST 24-07] BELGIUM - Development of Belgian second pillar pensions might stagnate even further under the new government, IPE has learnt today.
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News
TPR reveals trustees act on pension fund breaches
[16:55 CEST 24-07] UK – The Pensions Regulator (TPR) received over 1200 notifications of pension fund rule breaches from trustees last year, according to its latest annual report.
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News
Wednesday people roundup
[12:00 CEST 25-07] GLOBAL – Private Advisors, SSgA, BNP Paribas, P-Solve Alternative Investments, AXA, FRC, ETF.
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News
Myners to deliver personal accounts
[13:55 CEST 25-07] UK – Paul Myners, author of the Myners Review and chairman of the hedge fund group Ermitage, has been appointed as chair designate of the Personal Accounts Delivery Authority.
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News
Life insurers’ merger will see RAM takeover by F&C
[13:55 CEST 25-07] EUROPE – F&C Asset Management has entered into due diligence for the potential takeover of UK-based Resolution Asset Management.
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Swiss schemes on track to match 2006 return
[15:30 CEST 25-07] SWITZERLAND – Swiss pension funds, known as Pensionskassen, are on track to at least matching their average return of 6.58% for 2006, according to data supplied by Credit Suisse.
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News
Tube staff to strike over pensions
[16:45 CEST 25-07] UK – London Underground (LU) workers covered by the Transport for London Pension Fund have voted in favour of strike action in a row over pension rights.
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News
UK appoints new judges’ pension services
[16:45 CEST 25-07] UK – The Department for Constitutional Affairs (DCA) will replace its salary and pensions payroll services for the judiciary, members of the European Parliament and senior political and public office holders in the UK.
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Deregulatory review proposes surplus rule change
[16:45 CEST 25-07] UK – Legislation should be changed to allow pension funds to return surplus funding to sponsoring employers where conditions meet the scheme’s funding target, suggest the findings of a deregulatory review.
