All IPE articles in June 2009 (Online)

View all stories from this issue.

  • TPR adds buyouts to toolkit as new code is finalised
    News

    TPR adds buyouts to toolkit as new code is finalised

    2009-06-30T16:20:00Z

    [17:20 CEST 30-06] UK – The Pensions Regulator (TPR) has added a new module to its ‘Trustee Toolkit’ providing guidance on buy-ins and partial buy-outs to coincide with the publication of a code of practice relating to the ‘material detriment test’.

  • Surrey dropped £463m in 2008-09
    News

    Surrey dropped £463m in 2008-09

    2009-06-30T16:20:00Z

    [17:20 CEST 30-06] UK – Surrey County Council has revealed its pension fund lost £463m (€544.5m) in 2008-09 as a result of the financial crisis, as the investment return on the fund was -24.7%.

  • Transparency on pension risks is paramount - Netspar
    News

    Transparency on pension risks is paramount - Netspar

    2009-06-30T16:15:00Z

    [17:15 CEST 30-06] NETHERLANDS - Pension funds must make pension risks more transparent to their participants, the Dutch pensions research organisation Netspar believes. Funds should also focus on real guarantees, which should increase with age.

  • Hewitt awarded EC cross-border feasibility study
    News

    Hewitt awarded EC cross-border feasibility study

    2009-06-30T16:15:00Z

    [17:15 CEST 30-06] EUROPE – The European Commission (EC) has appointed Hewitt Associates to conduct a feasibility study on the requirements for establishing a pan-European pension fund for researchers.

  • Employer DC cuts puts more pressure on individuals
    News

    Employer DC cuts puts more pressure on individuals

    2009-06-30T16:00:00Z

    [17:00 CEST 30-06] UK – Almost three-quarters of occupational defined contribution (DC) members are saving "adequately", according to UK insurer Scottish Widows, however employers are gradually reducing their contributions and leaving employees to make up the shortfall.

  • Dutch gov’t urges schemes to invest in local economy
    News

    Dutch gov’t urges schemes to invest in local economy

    2009-06-30T15:50:00Z

    [16:50 CEST 30-06] NETHERLANDS - The government has called on pension funds to contribute to the economic recovery by investing in the Dutch financial sector.

  • USS to invest in evolving hedge funds market
    News

    USS to invest in evolving hedge funds market

    2009-06-30T15:45:00Z

    [16:45 CESt 30-06] GLOBAL – The Universities Superannuation Scheme, the UK’s second-largest pension fund, is to begin investing in single strategy hedge funds as officials say they can now get access to the big named brands and corporate governance conditions are improving.

  • Cologne fund searches for Master-KAG
    News

    Cologne fund searches for Master-KAG

    2009-06-29T16:00:00Z

    [17:00 CEST 29-06] GERMANY – The €530m city of Cologne pension fund is looking for an asset manager to take on the role of a Master-KAG, In a bid to "optimise" the fund's asset and risk management.

  • Nine in 10 delegate engagement to managers
    News

    Nine in 10 delegate engagement to managers

    2009-06-29T15:50:00Z

    [16:50 CEST 29-06] UK - Almost half of all UK pension funds intend to spend more time scrutinizing the actions of fund managers on engagement issues in the future, as 93% of schemes currently delegate engagement tasks to managers or third parties.

  • Germany’s largest pensionskasse returns 4.5%
    News

    Germany’s largest pensionskasse returns 4.5%

    2009-06-29T15:35:00Z

    [16:35 CEST 29-06] GERMANY – The €20.1bn BVV Pensionskasse for banks will grant its members 4.5% interest for 2008 as it achieved a positive portfolio return last year.

  • Icelandic pension lost 25% net in 2008
    News

    Icelandic pensions lost 25% net in 2008

    2009-06-29T15:30:00Z

    [16:30 CEST 29-06] ICELAND - The Pension Fund for State Employees (LSR) and pension fund for nurses (LH), the largest pension fund in Iceland, has reported a net real return of -25.2% in 2008.

  • Staffordshire awards currency mandate
    News

    Staffordshire awards currency mandate

    2009-06-29T15:15:00Z

    [16:15 CEST 29-06] UK – Staffordshire County Council has appointed Record Currency Management to run a specialist active currency overlay for its £1.69bn (€1.99bn) pension fund.

  • Asset managers still fail to address risk
    News

    Asset managers still fail to address risk

    2009-06-29T15:10:00Z

    [16:10 CEST 29-06] GLOBAL – Asset managers have yet to implement effective risk management to their practices and product development and could therefore cause further damage to their clients, suggests a study conducted by Ernst & Young, as many risk managers are still not being given the information or access ...

  • Consultancy merger to create Towers Watson
    News

    Consultancy merger to create Towers Watson

    2009-06-29T09:10:00Z

    [10:10 CEST 29-06] GLOBAL – Pensions and investment consultancy giants Towers Perrin and Watson Wyatt have announced plans to merge their operation, in a deal which values the combined operation at $3.5bn (€2.48bn).

  • Ascoop’s new fund for employers set on full-funding by 2020
    News

    Ascoop’s new fund for employers set on full-funding by 2020

    2009-06-26T15:30:00Z

    [16:30 CEST 26-06] SWITZERLAND – The multi-employer Pensionskasse for the Swiss public transport and tourism industry is setting up a new fund for those companies, which can afford to commit to reaching full-funding by 2020.

  • Skedsmo appoints Storebrand to pension role
    News

    Skedsmo appoints Storebrand to pension role

    2009-06-26T15:00:00Z

    [16:00 CEST 26-06] NORWAY – The municipality of Skedsmo has awarded the contract for its occupational pension scheme to Storebrand, while three other kommunes have re-tendered their pension contracts.

  • EC takes action against Italy, Denmark and Finland
    News

    EC takes action against Italy, Denmark and Finland

    2009-06-26T14:30:00Z

    [15:30 CEST 26-06] EUROPE - The European Commission has taken the first step in legal action against Italy over failure to equalise pension ages for men and women in the civil service, while Denmark and Finland have been ordered to amend legislation to stop the discriminatory taxation of foreign pension ...

  • Edinburgh Uni tenders admin, actuarial and investment
    News

    Edinburgh Uni tenders admin, actuarial and investment

    2009-06-26T14:00:00Z

    [15:00 CEST 26-06] UK – The University of Edinburgh is re-tendering the administration, actuarial and investment services for its £155m (€181m) Staff Benefits Scheme (SBS).

  • MPs' pensions deficit is result of lower contributions
    News

    MPs' pensions deficit is result of lower contributions

    2009-06-26T13:30:00Z

    [14:30 CEST 26-06] UK – The Parliamentary Contributory Pension Fund (PCPF) for members of parliament (MPs) would have been £5m in surplus instead of £50m (€58.6m) in deficit at the last valuation if the government had made the correct contributions, the chairman of the scheme has claimed.

  • Babcock confirms longevity deal with Credit Suisse
    News

    Babcock confirms longevity deal with Credit Suisse

    2009-06-26T13:00:00Z

    [14:00 CEST 26-06] UK – Babcock International has confirmed trustees of its Davenport Royal Dockyard defined benefit (DB) scheme have signed a longevity swap agreement with Credit Suisse to cap £300m (€328m) of its pensioner-in-payment liabilities.