All IPE articles in July 2009 (Online) – Page 6
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NewsPension deficits may cause more dividend cuts
[17:35 CEST 13-07] UK – More companies could start cutting dividend payouts in an attempt to help fund pension deficits, although Towers Perrin has warned this would only be part of the solution.
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NewsBarratt closes DB as deficit exceeds €100m
[17:35 CEST 13-07] UK - Barratt Developments, the UK housebuilder, has joined the ranks of companies ending their final salary pension schemes by announcing the closure of its defined benefit (DB) pension scheme to existing members from 1 July.
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NewsUK gov't defends limited tax relief concession
[17:30 CEST 13-07] UK – The government has defended its decision to raise the ‘special allowance’ for receiving higher rate tax relief on pension contributions by just £10,000 on the basis it would only cost an additional £70m (€81m).
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NewsEU schemes fall behind on climate change
[16:45 CEST 13-07] EUROPE - European pension funds are lagging behind other institutional investors in using climate change as an investment criterion, according to a new survey.
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NewsAustrian pensionskassen back on positive ground
[16:35 CEST 13-07] AUSTRIA – The second quarter brought a major shift into positive territory for Austrian pensionskassen with a return of 3.74%.
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NewsBarnett Waddingham appointed LPFA actuary
[16:30 CEST 13-07] UK – Barnett Waddingham has replaced Hymans Robertson as the actuarial services provider to the London Pension Fund Authority (LPFA).
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NewsDurham University tenders pension services
[16:00 CEST 13-07] UK – Durham University is seeking a provider for a range of services to its pension scheme including actuarial services and consultancy.
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NewsGerman bond exodus signals potential problems for euro-zone
[18:00 CEST 10-07] EUROPE - Renewed selling of German bonds could indicate more tough times for the euro-zone, according to Bank of New York Mellon.
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NewsUK PPF updates investment principles following insolvencies
[17:45 CEST 10-07] UK - The Pension Protection Fund (PPF) has updated its statement of investment principles (SIP) in response to the expected increase in its funds under management because of the surge in company failures.
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NewsPartners Group sees CHF1.4bn inflows
[17:10 CEST 10-07] SWITZERLAND – The alternative asset manager Partners Group has reported a growth in assets under management to CHF24.9bn (€16.5bn) to June 30.
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NewsIrish ministerial pension cut is 'political cowardice'
[17:00 CEST 10-07] IRELAND – The government has been accused of "political cowardice" for reducing the pensions of former ministers by 25% instead of abolishing the entitlement immediately.
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NewsIreland may be better off with first pillar
[16:55 CEST 10-07] IRELAND - The collapse in asset values of Irish pension funds has strengthened the arguments for pay-as-you-go (PAYG) financed pensions rather than funded ones, according to a senior finance lecturer at Dublin’s Trinity College.
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NewsUK schemes see outsourcing as key to admin cost cuts
[16:50 CEST 10-07] UK - Cost-cutting is the number one priority for UK pension schemes, according to the Pension Administration Survey 2009 from Hewitt Associates.
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NewsBritish Steel's internal team seeks Asia Pacific equity expert
[16:45 CEST 10-07] UK – The £9.8bn (€11.4bn) British Steel Pension Fund is looking to strengthen its internal investment team with the appointment of an Asia Pacific equity manager.
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NewsLAPFF fails to pass M&S resolution
[17:20 CEST 09-07] UK – A shareholder resolution put forward by the Local Authority Pension Fund Forum (LAPFF) calling for an independent chair of the board of Marks & Spencer (M&S) was backed by just 38% of shareholders.
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NewsSchemes advised be 'wary' of new mortality models
[17:20 CEST 09-07] UK – Pension schemes have been warned to be ‘wary’ of moving towards longevity projections based on data from the wider UK population rather than occupational scheme data, following the publication of the rationale behind a prototype mortality model.
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NewsFoster Wheeler ruling could trigger further legal action
[17:15 CEST 09-07 UK – The Court of Appeal's judgement in the Foster Wheeler case has received conflicting reactions from the industry including a suggestion that the ruling could lead to further litigation.
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NewsSwiss canton fund raises contributions
[17:10 CEST 09-07] SWITZERLAND – The CHF1.5bn (€1bn) Schaffhausen Pensionskasse is battling a 10.5 percentage point drop in its funding level.
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NewsCredit crisis 'could cause PPF cuts'
[17:00 CEST 09-07] UK – One potential consequence of a prolonged credit crisis is that the Pension Protection Fund (PPF) could be forced to cut the level of compensation paid to beneficiaries in order to survive, Barnett Waddingham has claimed.
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NewsDB accrual cuts will impact at snail's pace – Towers Perrin
[16:10 CEST 09-07] UK – Employers who halt defined benefit pensions accrual will see very little cost saving in the short-term, according to analysis conducted by Towers Perrin.
