All IPE articles in July 2008 (Online) – Page 9
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News
Ireland denies plans for 'pension holiday'
[15:00 CEST 28-07] IRELAND – Officials of the Irish ministry of finance have today strenuously denied the government is working on legislation to take a two-year pension holiday from the National Pension Reserve Fund (NPRF).
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News
NIB hybrid plan accepted by union members
[15:30 CEST 28-07] IRELAND – The National Irish Bank's (NIB) plans to introduce a hybrid pension scheme from August 1 2008 have been accepted by members of the Irish Bank Officials Association (IBOA) trade union.
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News
Entering IPE Awards 'boosted member relations'
[16:20 CEST 28-07] EUROPE – Officials at a Swedish pension fund have told pension fund executive the winning of an IPE European Pension Fund Award added “real value” to their relations with members, so entries are now being invited for this year’s event.
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PKZH suspends rebalancing on solvency drop
[16:30 CEST 28-07] SWITZERLAND – The CHF14.5bn (€8.9bn) City of Zürich Pension Fund has decided not to make any major changes to its portfolio in light of the credit crisis, even though its funding level has now dropped from 130% in 2007 to an estimated 116% today.
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News
Alexander Forbes offers TrustEase relief
[16:50 CEST 28-07] UK – Alexander Forbes Trustee Services has today launched a service that it claims frees insolvency practitioners (IPs) from the liability of being a trustee of an insolvent company’s defined contribution (DC) pension scheme.
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News
Private equity may trigger buyout consolidation (amended)
UK – Consolidation in the buyout market is only going to increase, according to actuarial consultants, as it is suggested the private equity companies backing behind some newer entrants are more used to higher returns on their investment than competition in the bulk annuity sector is producing.
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News
ING takes AZL's fiduciary offering abroad
[12:30 CEST 29-07] NETHERLANDS – ING Investment Management, which has been offering fiduciary management to medium-sized Dutch pension funds since its acquisition of pension fund manager AZL last year, plans to launch a fiduciary proposition abroad.
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News
Cheshire places £130m in high alpha fixed income
[13:45 CEST 29-07] UK – The £2.3bn (€2.8bn) Cheshire County Council Pension Fund has awarded three fixed income mandates, including £130m into two high alpha funds managed by Henderson Global Investors.
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News
Market turmoil impacts little on SBZ’s cover ratio
[15:45 CEST 29-07] NETHERLANDS - The €2.6bn pension fund for care insurers SBZ closed the first half of 2008 with a funding ratio of 145% - down only three percentage points from the year-end.
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News
ABP joint venture spends €2.7bn in shopping spree
[16:00 CEST 29-07] NETHERLANDS – The €205bn Dutch pension fund ABP today revealed it now owns Scandinavia’s largest shopping centre owner and developer, Steen & Strøm, after buying the firm in a joint venture for NOK21.9bn (€2.7bn).
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News
Regulators should aid pension consolidation – OECD
[16:40 CEST 29-07] GLOBAL – Regulators should promote pensions consolidation as small pensions funds are handicapped when it comes to setting up internal governance, a new working paper by the OECD argues.
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News
Changes at the top for Hewitt’s consultancy
[16:45 CEST 29-07] GLOBAL – Perry Brandorff and Roger Parkin are stepping down from their roles as heads of Hewitt Associates’ global and European consulting businesses, after over 25 years with the firm.
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News
Danish LD fund reduces equities by DKK1.7bn
[16:50 CEST 29-07] DENMARK – The DKK62.8bn (€8,4bn) Lønmodtagernes Dyrtidsfond (LD) reduced the equity exposure in its main investment fund by almost DKK1.7bn last year, in an effort to limit risk.
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News
O'Brien warns ASB plans may 'hasten' DB closures
[17:00 CEST 29-07] UK – Mike O'Brien, the UK minister for pensions reform, has expressed concerns that the changes to financial reporting of pensions proposed by the Accounting Standards Board (ASB) could "hasten" the closure of defined benefit (DB) schemes.
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News
Employer pain warning on Dutch executive pensions tax
[11:00 CEST 30-07] NETHERLANDS – Employers with businesses in the Netherlands might need to adjust their executive pension arrangements if Dutch lawmakers approve additional tax restrictions backed by the government, Towers Perrin has warned.
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News
Wednesday people roundup
[13:00 CEST 30-07] GLOBAL: People roundup – Threadneedle Asset Management, Pioneer, Aegon, Bfinance, Mercer, AXA IM, BNP Paribas.
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News
NU nets half its missing trawlermen members
[14:15 CEST 30-07] UK – UK life insurance firm Norwich Union is still attempting to track down over 6,000 people who were thought to be members of the UK trawlermen defined benefit (DB) pension schemes, after it was found some members had never received payouts.
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News
£1.2bn Trafalgar House fund replaces Hewitt (amended)
[15:00 CEST 30-07] UK - The £1.2bn (€1.5bn) pension fund of the former UK property conglomerate Trafalgar House has appointed Dutch consultant Cardano as its new investment adviser, replacing Hewitt.
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News
Flynn to share BoI pensions experience
[15:00 CEST 30-07] IRELAND – Frank Flynn, former head of group pensions at the Bank of Ireland, has opened a pension consultancy business to share his expertise with businesses and pension funds reviewing their pensions strategies and governance.
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Allianz mulls pan-European pension fund
[16:00 CEST 30-07] GERMANY – The insurance group Allianz is considering rolling out a pan-European pension fund but regulations could yet hinder the project.
