Latest from IPE Magazine – Page 550
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Special Report
Why we need whistleblowers
Keith Ambachtsheer, a pensions guru on both sides of the Atlantic, has a different slant on what can make defined benefit schemes sustainable long term. Speaking recently in the US to a conference of teacher retirement plans, he told delegates: “You need a whistleblower.” Toronto-based Ambachtsheer, who acts as a ...
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Features
Ready for take off
Toine van der Stee, who took over as managing director of Blue Sky Group recently, is a relative new comer to the pension sector and appears very upbeat about current developments. “I always make a comparison between the pension sector and other financial sectors in the Netherlands,” he says “Some ...
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Features
Earmarked for early retirement
The new Dutch ‘levensloop’, the new life course, scheme - designed to encourage later retirement - will probably have to be adjusted within five years. Too many workers want to use it for early retirement, instead of a sabbatical or care leave. Benne van Popta, chairman of the Association of ...
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Features
More coming custodians' way
The new regulatory framework for the Dutch market, Financieel Toetsingskader (nFTK), has provided a rich seam of business for Kas Bank, the Dutch custody, clearing and settlement specialist. In the first half of 2005 to 30 June, the bank recorded a 30% rise in net profit to €9m, while total ...
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Features
Delaying the inevitable?
Under the current actuarial rulings (APP), pension funds are allowed to use interest rates up to a maximum of 4% to discount liability streams. This has to be done in a prudent fashion. Specifically the words ‘maximum’ and ‘prudent’ seem to be ignored quite regularly, as it is almost a ...
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Features
Taking the next big step
Developing from a pension fund into a fully-fledged commercial tiger does not happen overnight. Mn Services in Rijswijk knows all about it. Until 2001 Mn Services was an integral part of the Pension Fund for Metalworking and Mechanical Engineering. Four years ago Mn Services ‘broke loose’ from its parent and ...
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Features
Eumedion widens its scope
The Dutch Foundation of Corporate Governance Research for Pension Funds, or SCGOP, has changed its name and plans to widen its membership. The newly named Eumedion will now be open to insurers and asset managers. There will also be a change of management. At a recent annual meeting, it was ...
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Features
PGGM sees long life in Levensloop
PGGM’s new pension fund subsidiary Careon Levensloop has finalised a seven-year outsourcing contract with KAS Bank and Ordina. The agreement - effective from 1 January 2006 - will see Ordina in charge of administrative tasks, while KAS facilitates the associated banking process. “We will offer products to our clients to ...
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Features
The perils of serving two masters
Anyone who has attempted to serve two masters knows that the risk of conflicts is enormous. Real success is only possible in two cases: where the two masters have no overlapping interests or when they have completely aligned interests. Dutch pension funds have a long history of serving multiple masters, ...
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Features
The case for keeping it simple
Pension funds are doing well in solving disputes with their members, and they are even improving. This is the view of Dutch Pensions Ombudsman Piet Keizer. “There is a clear trend towards better information and dealing with members’ complaints. A growing number of funds have their own complaints’ schemes, which ...
