All IPE articles in June 2009 (Online) – Page 3
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News
Royal Mail may shut scheme if gov't Bill fails
[17:20 CEST 08-06] UK – Royal Mail has warned it may be forced to close its £20bn (€22.98bn) defined benefit (DB) scheme if the government's plans for a part-privatisation of the company fail.
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Companies are liquid enough to keep pensions - consultant
[17:15 CEST 08-06] AUSTRIA – Consultancy firm Arithmetica has claimed the recent financial crisis is further proof that occupational pensions are better left on the companies’ books than in separate arrangements.
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News
Workplace healthcare 'key' to delaying retirement
[17:15 CEST 08-06] FINLAND – The average retirement age for employees would increase by a year if “effective occupational health care schemes” are provided at all workplaces, the Central Organisation of Finnish Trade Unions (SAK) has claimed.
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News
Alternatives as much to blame as banks - Swiss funds
[16:25 CEST 08-06] SWITZERLAND – Swiss pensionskassen believe the main causes of the financial crisis were a lack of appropriate regulation as well as excessive risks taken by the financial sector, among banks as well as managers of alternative asset classes such as private equity and hedge funds.
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News
Northern Trust expands into pensions 'advisory'
[17:05 CEST 09-06] GLOBAL – Northern Trust has unveiled an additional service for pension funds and other clients which effectively sees it offer consultancy services to existing clients on asset, risk and regulatory management, but minus the manager selection element.
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DB deficit sees £9bn improvement in May
[17:10 CEST 09-06] UK – The aggregate funding position of around 7,400 defined benefit (DB) schemes has improved by just over £9bn to a deficit of £179.3bn, according to the Pension Protection Fund (PPF).
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News
BIS rejects 'Royal Mail sale is dead' claim
[17:10 CEST 09-06] UK – The Department for Business, Innovation and Skills (BIS) has rejected reports suggesting the part-privatisation section of the Postal Services Bill has been scrapped, claiming all three parts of the Bill will go ahead as a "package", albeit with a potential delay.
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News
Average Danish retirement age drops to 63
[17:15 CEST 09-06] DENMARK – The average retirement age in Denmark fell by almost two years between 1992 and 2008, according to a new study by Forsikring & Pension, the Danish Insurance Association (DIA).
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News
German funds catch up on SRI
[17:15 CEST 09-06] GERMANY – Approximately 50% of German retirement providers are using ethical criteria within their investments, but not all of them are adopted on a wider scale, a study has claimed.
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News
Arcandor pensions could face the PSV
[17:20 CEST 09-06] GERMANY – Arcandor, the firm behind German high street retail giant Karstadt, may eventually see its defined benefit pension obligations placed in the hands of Germany’s lifeboat fund for pensions, as the firm today announced it had filed insolvency papers.
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News
Rio Tinto awards State Street custody mandate
[17:20 CEST 09-06] UK/US – Mining company Rio Tinto has appointed State Street to provide global custodian services for its pension funds in the UK, US and Canada.
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News
Wednesday people roundup
[15:30 CEST 10-06] GLOBAL – AP1, Veritas Pension Insurance, Tomlinson Investment Consulting, Gartmore, Liontrust, Sustainable Asset Management, Cardano, Aberdeen Property Investors,LVAM.
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News
CEIOPS maintains cross-border focus
[16:00 CEST 10-06] EUROPE – The body of regulatory officials knows as CEIOPS is planning this year to try and identify those European pensions schemes which are not currently covered by any European Union legislation, as part of its continuing review of cross-border pensions supervision.
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News
SSRB consults on future of MP pensions
[16:10 CEST 10-06] UK – The Senior Salaries Review Board (SSRB) has issued a consultation to gather feedback on the future of the Parliamentary Contributory Pension Fund (PCPF), which includes proposals for reducing costs and the possibility of switching to a different pension arrangement.
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News
Tories propose to abolish compulsory annuities
[16:30 CEST 10-06] UK – The Conservative Party has claimed it will abolish compulsory annuitisation at age 75 if they win the next general election, as part of an effort to "rebuild our savings culture".
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News
Austrian pension fund doubts value of reform
[16:30 CEST 10-06] AUSTRIA – The Victoria-Volksbanken Pensionskasse is not convinced that making it easier for people to switch between several pension vehicles will help the second pillar, IPE was learnt.
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News
Oxfordshire seeks actuarial services
[16:35 CEST 10-06] UK – Oxfordshire County Council is seeking an actuary for its £796m (€925m) local government pension scheme.
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News
Danish pension fund turns to Asian equities
[16:55 CEST 10-06] DENMARK – A Danish pension fund is looking to hire a specialist investment manager to deliver an Asian ex-Japan and ex-Pacific equities mandate, and is conducting its search through IPE-Quest.
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News
Economic downturn has halted pensions saving
[17:05 CEST 10-06] GLOBAL – The economic downturn has led more than one in 10 of the global population to stop saving for retirement , HSBC has revealed.
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News
PIMCO unveils GDP-based debt strategy
[16:00 CEST 11-06] GLOBAL – PIMCO has launched a new concept in fixed income investing which is said to provide an improved measure of credit market beta by shifting away from market cap weightings and adopting a variety of credit vehicles to deliver counter-cyclical rebalancing.
