All IPE articles in June 2009 (Online) – Page 5
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NewsTories table pension tax relief amendments
[17:10 CEST 15-06] UK – Proposed amendments to the Finance Bill 2009 to limit the impact of anti-forestalling measures ahead of the reduction of higher rate tax relief on pension contributions from 2011 have been introduced by Conservative MPs.
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Latvia to tackle budget deficit with pension cuts
LATVIA – The Latvian government is planning to reduce its budget deficit for 2009 by LVL500m (€714.3m) but intends to do so, among other routes, through a major cut in pension payouts.
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NewsAegon unveils its completed cross-border pensions platform
[17:00 CEST 16-06] EUROPE – Aegon Global Pensions and its third-party administration arm TKP Investments have finally rolled out their cross-border pensions platform targeted at multinational companies to help manage their pension plans, though officials say the process was not without technical and regulatory complications.
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Management at state firms 'should switch to DC' - Finnish report
[17:00 CEST 16-06] FINLAND – An independent working group established to review remuneration and pensions at Finnish state-owned companies has recommended that all existing schemes should be replaced with defined contribution (DC) pensions.
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Pension costs deter private sector bids
[17:05 CEST 16-06] UK – The government needs to “level the playing field” and stop private sector companies having to pay up to three times as much in pension costs than the public sector following staff transfers, the Confederation of British Industry (CBI) has warned.
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NewsMEPs launch legal challenge over reforms
[17:10 CEST 16-06] EUROPE – Members of the ABSL voluntary pension fund for Members of the European Parliament (MEPs) have launched a legal action against the European Parliament over changes to the pension scheme.
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NewsAuto-enrolment will provide 'small' savings boost
[17:15 CEST 16-06] UK – Pension reforms designed to auto-enrol eligible employees into qualifying workplace pension plans will only produce a "relatively small" increase in overall pension savings, the Institute for Fiscal Studies (IFS) has warned.
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Norway-Global passes NOK2.3trn in May
[17:20 CEST 17-06] NORWAY – The value of the Norwegian Government Pension Fund – Global has increased for the third consecutive month to reach NOK 2.308trn (€258.9bn).
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Consultancy fears pension 'catastrophe'
[17:20 CEST 16-06] GERMANY – Underestimating the long-term effects of the recent financial crisis on pension schemes and measures to counteract it could lead to a “catastrophe” in the second pillar, German consultancy Longial has suggested.
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NewsCampagne signs fiduciary manager
[15:30 CEST 17-06] NETHERLANDS - The €275m agricultural pension fund Campagne has appointed Mn Services as its fiduciary asset manager.
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NewsWednesday people roundup
[16:00 CEST 17-06] GLOBAL - People roundup: KPMG, Mercer, Alignment Investors, National Association of Pension Funds, ETF Securities, Osmosis Capital, Barnet Waddingham.
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NewsPhilips extends its ESG focus
[16:55 CEST 17-06] NETHERLANDS – The Philips Dutch pension fund is planning to invest its assets in the future under the terms of the United Nations Principles for Responsible Investment (UNPRI) and allocate a portion of its assets to responsible investment.
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BlackRock deal goes ahead as CVC pulls out on iShares
[17:10 CEST 17-06] GLOBAL – Barclays Group will be selling iShares, the ETF providers, to BlackRock as agreed last week, after giving the earlier bidder CVC Capital Partners one more chance to better the offer.
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NewsCzech funds survive stress test, for now
CZECH REPUBLIC – All Czech pension funds have passed a stress test by the country’s national bank (CNB) but the results show major weaknesses should interest rate levels climb steeply.
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NewsIreland cuts former ministers' pensions by 25%
[17:20 CEST 17-06] IRELAND – The government has confirmed former ministers still serving as members of parliament (TDs) and currently in receipt of a ministerial pension will see their benefits cut by 25%.
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NewsManagers predict early recovery
[17:25 CEST 17-06] GLOBAL – Fund managers are now more optimistic about investment markets for the next 12 months, as just 7% predict there will be a global recession compared to 70% in April, although on a regional basis European managers appears much more sceptical, revealed the Merrill Lynch monthly ...
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NewsHarvard expert urges 'back to beta basics'
[13:00 CEST 18-06] EUROPE - Institutional investors should rethink their obsession with chasing alpha and 'go back to basics' with asset allocation models based on beta or fundamental risk, claimed Luis Viceira at the 12th Annual Portfolio Management Conference in Frankfurt.
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NewsHedge funds 'victims of crisis, not culprits', says Lhabitant
[13:30 CESt 18-06] EUROPE - Hedge funds were the victims of the financial crisis and not the perpetrators, and they remain an appropriate tool for institutional investors, argued Francois-Serge Lhabitant at the 12th Uhlenbruch Annual Portfolio Management Conference in Frankfurt.
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NewsBlue Sky Group tightens management controls
[14:00 CEST 18-06] NETHERLANDS - The €10.6bn asset manager and pensions provider Blue Sky Group is putting extra measures in place to deal with counterparty risks following the credit crunch.
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NewsMembers at 20 schemes could face benefit cuts - DNB
[15:00 CEST 18-06] NETHERLANDS - Approximately 20 pension funds will have to cut their benefits unless their proposed recovery measures generate sufficient improvement to their financial positions next year, the pensions regulator De Nederlandsche Bank has warned
