All IPE articles in June 2009 (Online) – Page 6
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NewsRomanian second pillar back on schedule
ROMANIA – The IMF has agreed a financial aid package with Romania which will ensure, that the country can return to its original schedule for changes to second pillar contributions and in turn will put in place reforms.
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NewsKensington awards custody mandate
[17:10 CEST 11-06] UK – The Royal Borough of Kensington and Chelsea (RBKC) has appointed Northern Trust as the custodian to its local government pension scheme.
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NewsNorthern Rock deficit revised to £60m
[17:05 CEST 11-06] UK – Trustees of the Northern Rock Pension Scheme have revised the estimated deficit in the plan down from £100m to £60m (€71m) following a provisional funding agreement with the government, subject to review later in the year.
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NewsAuto-enrolment needs more time - NAPF
[17:00 CEST 11-06] UK – The National Association of Pension Funds has warned current proposals for auto-enrolment in 2012 are “too rigid” as they give employers insufficient time and flexibility and will lead to higher costs as a result.
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NewsBig was not beautiful for private equity in 2008
[16:40 CEST 11-06] EUROPE – Investment in European private equity fell last year, according to the European Venture Capital Association but there was capital growth and an increase in smaller equity-centric buyouts – a trend apparently ongoing as Aberdeen’s private equity team has bought out its private equity arm.
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NewsPIMCO 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.
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NewsEconomic 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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NewsDanish 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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NewsOxfordshire 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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NewsAustrian 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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NewsTories 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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NewsSSRB 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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NewsCEIOPS 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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NewsWednesday 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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NewsRio 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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NewsArcandor 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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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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NewsAverage 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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NewsBIS 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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NewsDB 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).
