All IPE articles in June 2009 (Online) – Page 6
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NewsPfZW recovers to 100%
[16:15 CEST 18-06] NETHERLANDS – Pensioenfonds Zorg en Welzijn, the industry-wide pension fund for the healthcare industry, saw its cover ratio rise back up to 100% by the end of May and its assets climb to €74.4bn.
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NewsCapita bolsters offering with Gissings deal
[16:20 CEST 18-06] UK – Capita Hartshead has acquired Gissings Consultancy Services in a move designed to bolster and improve its existing services.
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Swiss pension level breaches constitution - union
[16:30 CEST 18-06] SWITZERLAND – Pension benefits provided by the first and second pillars no longer provide enough for a decent retirement and should therefore be seen as in breach of the Swiss constitution, the Swiss union Unia has claimed.
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NewsPension funds push for expert on mining board
[16:40 CEST 18-06] GLOBAL - A resolution, proposed by European and American pension funds, to appoint an independent environment expert to the board of mining company Freeport McMoRan received the support of 32.5% of shareholders.
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Shareholders must do more on governance - OECD
[15:00 CEST 19-06] GLOBAL – The Organisation for Economic Cooperation and Development has warned shareholders need to be more proactive as owners if corporate governance is to improve globally.
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NewsDonner to close ‘levensloop’ hole
[16:00 CEST 19-06] NETHERLANDS - Social affairs’ minister Piet Hein Donner has announced measures to prevent workers who have taken early retirement under the tax-friendly ‘levensloop’ savings scheme from also taking advantage of the tax-facilitated ‘doorwerkbonus’, or non-stop bonus, which is meant to encourage longer working.
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Mortality projections model tailored to user needs
[16:30 CEST 19-06] UK - The UK Actuarial Profession has unveiled a prototype mortality model for projecting increases in life expectancy which it believes will better reflect recent mortality rates and trends.
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FRR lowers equity holding in strategic review
[16:55 CEST 19-06] FRANCE – FRR, the French national pension fund, has completed its strategic asset allocation review and effectively split equities and bonds holdings as well as introduce new standards on the level of returns and volatility set.
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Dairy Crest mulls pension future after buy-in
[17:00 CEST 19-06] UK – Dairy Crest has revealed it is in consultation with staff regarding the future of its defined benefit (DB) scheme, after completing a second buy-in of pensioner liabilities.
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Goodwin pension cut avoids legal uncertainty
[17:00 CEST 19-06] UK – Legal protections prohibiting employers from retrieving pension benefits remain in tact after Royal Bank of Scotland (RBS) after Sir Fred Goodwin, the former chief executive, agreed to voluntarily reduce his annual pension to £342,500 (€404,046).
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NewsLeicestershire awards target return mandate
[17:00 CEST 19-06] UK – Leicestershire County Council has appointed two managers to run a target return portfolio, estimated at around £300m for its £1.5bn (€1.75bn) pension fund.
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NewsMEP pension decision will apply to all members
[17:10 CEST 19-06] EUROPE – The European Parliament has agreed to apply a judgment to all members of the MEPs' pension fund if it loses a legal action over changes to the ABSL voluntary pension scheme, and not just to participants who pursue the case.
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Economist warns pensions should not contain equities
[14:00 CEST 22-06] AUSTRIA – Investing in equities is unsuitable for pension fund investment, according to Helmut Kramer, the former head of Austria’s economic research centre Wifo.
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A&O to take over Aon’s Dutch pension admin
[15:45 CEST 22-06] NETHERLANDS - Pensions administrator A&O Fondsmanagement will take over the pension administration activities of Aon Consulting Netherlands.
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Investment Solutions to deliver 'real' fiduciary management
[16:15 CEST 22-06] UK – Investment Solutions, a UK multi-manager division of Alexander Forbes, has attacked rival investment consultancies for what is says is abuse of the term ‘fiduciary management’.
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SPW fell 4.3% in first quarter
[16:30 CEST 22-06] NETHERLANDS - SPW, the €4.1bn pension fund for housing corporations, returned –3.9% in investments during the first quarter – just 0.5% short of its benchmark.
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DWP rejects calls for further FAS funding
[16:40 CEST 22-06] UK – The government has rejected suggestions that it should increase funding to the Financial Assistance Scheme (FAS) and allow it to cover all lost benefits when a scheme has wound up, by arguing that the FAS was never intended to replicate each pension fund's structure of ...
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Eq Life ex-gratia office appoints actuary
[16:50 CEST 22-06] UK – Towers Perrin has been appointed as actuarial advisers to the office of Sir John Chadwick, which was established as an independent government adviser on the development of an ex-gratia payment scheme for Equitable Life policyholders.
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TPR seeks analytical services to boost offering
[16:55 CEST 22-06] UK – The Pensions Regulator (TPR) is seeking participants for a framework agreement providing analytical services to supplement its in-house resources.
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Third of Irish DB failed funding test in 2008
[17:00 CEST 22-06] IRELAND – More than three out of 10 defined benefit (DB) pension schemes submitting actuarial funding certificates (AFC) in 2008 failed to meet the required funding standard, the Pensions Board has warned.
