Latest from IPE Magazine – Page 641
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Features
Setting a standard on governance
The BT Pension Scheme (BTPS), winner of this year’s IPE Silver Award for Corporate Pension Fund of the year, is the largest defined benefit (DB) company pension scheme in the UK. The fund has an impressive 365,811 members in total, comprising 91,692 contributing members, 95,829 deferred pensioners and 178,290 pensioners. ...
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Social partners take step into the future
Few European pension funds have made as much impact in a short space of time as MetallRente, the German industry-wide pension fund founded in 2001 by the labour union IG Metall and the employers’ association Gesamtmetall for employees of the metal and electrical industries. Such has been the success of ...
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Focusing on customer service
The pension fund of ABP, Europe’s largest retirement plan, needs little introduction. A self-administered public pension fund for employers and employees in the government, education and defence sector, at year-end 2002 its customer base consisted of approximately 1.1m active participants, 700,000 inactive participants and 700,000 pensioners. The insured are employed ...
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Features
Sound returns and efficient admin
The Victoria-Volksbanken Pensionskassen is a multi-employer pension fund offering DB and DC pension schemes. The administered plans are funded both by employer and employee contributions. With a capital value topping E308m at the end of 2002, its major shareholders are Österreichische Volksbanken, Victoria Volksbanken Versicherungs and ERGO International für Beteiligungen. ...
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Features
Specialised IT helps meet needs of medical sector
The VKG pension fund in Belgium, established more than three decades ago, aims to create decent pensions for the country’s doctors, dentists and pharmacists. The fund is geared mainly towards independent professionals, because, it says, their first pillar state pension provision is very weak. VKG offers a service to its ...
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Features
Keeping it simple, but also flexible
Founded by the parties negotiating the collective labour agreement for Denmark’s industrial sector, notably the Confederation of Danish Indsutry (Dansk Industri) and trades union cartel, Centralorganisationen af Industriansatte (CO), the Copenhagen-based Industriens Pension is a joint stock life insurance company, with all profits going back into the company as members’ ...
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Features
Diversified strategy aims to keep returns coming in
With a capital value of some €14.5bn in 2002 but with returns in decline, Finland’s llmarinen Mutual Pensions Insurance Company (Ilmarinen) is looking to incorporate structured products, derivatives and commodities into its investment strategy as a means of helping it achieve its main objective of ensuring the best possible long-term ...
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Features
Harmonised schemes offer fresh opportunities
Flexibility and freedom of choice are the key words in the new pensions and benefits system of French oil and chemicals sector giant TotalfinaElf. Coinciding with the Loi Fabius on pensions and savings, the newly-merged group was quick to act in setting out its vision for new harmonised supplementary schemes ...
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Features
Seeking out security for employees
A very new fund, the Vodafone Pension Trust is a CTA that was only established in March 2003, sponsored by Vodafone Deutschland. Open to all 10,000 participating employees in Germany, it offers a defined benefit (DB) scheme plus an employee-financed defined contribution (DC) scheme for 1,500 active members, 800 retired ...
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Features
A way to smooth out future shock
The National Pensions Reserve Fund was set up two years ago, to meet some of Ireland’s future public pension liabilities. Pension costs – as elsewhere – are expected to rise significantly as the population ages, and assets of the fund will be drawn down by future ministers for finance starting ...
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Features
Solid investment for self-employed professionals
The national pensions and benefit fund for Italy’s self-employed architects and engineers, Inarcassa, has e2.3 billion under management. Since privatisation in 1995, it has been upgrading its systems and financial management to compete independently, without state support. Investment strategy is determined by a national delegates’ committee, consisting of some 200 ...
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Features
Committed to flexibility and customised pensions
Still the largest pension fund in the Netherlands, with over a million active members, 700,000 inactive members and 700,000 pensioners, ABP is the self-administered occupational pension scheme for the Dutch public sector. Aside from pensions, it offers disability and death benefits for survivors and dependants. ABP’s long-standing defined benefit structure ...
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Features
The right numbers for telecoms employees
With the establishment 12 years ago of its own pension fund management company, Fonditel Pensiones EGFP (Fonditel), telecoms group Telefónica claims to be the pioneer model of the new second pillar pensions industry in Spain. Fonditel’s mandate was to implement its own autonomous investment policy with the objective of ensuring ...
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Features
High dividend aspirations with a choice of styles
The objective of Länsförsäkringar Liv is to achieve the market’s highest dividend interest over the long term. Containing costs, along with achieving the highest possible risk-adjusted returns, are the keys to doing so. As the life insurance arm of the Länsförsäkringar group, it benefits from substantial economies of scale by ...
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Features
Information is a special duty for creator of web
The CERN Pension Fund – the fund of the European Organisation of Nuclear Research – was set up in 1955 to insure members, beneficiaries and family members against the financial consequences of disability and old age of members, and death of members and beneficiaries. CERN is a non-profit research laboratory ...
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Features
Quality services at an optimum cost
The London Pensions Fund Authority, set up in 1989, is one of the largest administrators in the UK of the Local Government Pension Scheme (LGPS). It has 73,000 members from this scheme, and includes more than 220 employers. As well as this, the LPFA operates nine agency administration contracts, covering ...
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Features
High-quality service and investment performance
This fund is a Polish mandatory, defined contribution, open pension fund. The state-owned Social Insurance Institution (ZUS) collects and allocates pension contributions to open pension funds, with each individual member contributing 7.3% of their gross salary on a monthly basis. The main aims of the fund, which was established in ...
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Features
Split model balances guarantee with growth
The fund was initiated jointly by the association of the chemical industry employers and the union of the chemical industry employees in Germany. Both associations still support the fund by promoting it among their members and both organisations send members to the supervisory board of Chemie Pensionsfonds. Financially, however, the ...
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Features
Fund of funds gives focus to private equity investment
ATP Private Equity Partners was set up two and a half years ago to manage the global private equity investments on behalf of ATP and SP, the Danish supplementary pension arrangements. ATP Private Equity Partners combines the private equity incentive and co-investment model with the long-term capital source from an ...
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Features
Alternative investments shifts efficiency frontier
In 2002 the Seventh Swedish National Pension Fund (AP7) added hedge funds and private equity to its portfolios. Prior to this decision, however, together with Watson Wyatt Investment Consulting, AP7 built a model that captures the key features of the Swedish pension system. In particular, the model takes into account ...
