Latest from IPE Magazine – Page 683
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Features
TotalFinaElf harmonises plans
TotalFinaElf employs what it calls a harmonised package of supplementary pensions and savings plans. The group has shown a willingness to put in place new common personnel administration procedures within group companies designed to facilitate mobility. The approach fits in with the new legal framework for long and short-term savings ...
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Features
Support for launch of new wide-ranging pension pac
The judges said that the establishment of the TotalFinaElf fund must have been an achievement in itself and praised its use of “good tools and periodicity in the communication process”. The staff at TotalFinaElf’s new retirement savings and pension fund department were naturally delighted to learn they had won the ...
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Features
MetallRente's well-forged plan
MetallRente, the joint venture between the metal employers’ association (Gesamtmetall) and the metalworkers’ union (IG Metall) has been heralded as one of the most innovative occupational pension funds to come out of the Riester pension reforms. At the beginning of September the organisation had more than 500 companies under contract ...
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Features
Award provides opportunity to present unique concept
Metallrente, the recently established sector-wide supplementary pensions provider for the German metal workers and related industries, believes winning the IPE country award for Germany is a sound acknowledgement that it came up with the perfect concept and structure within the country’s new pensions landscape. “Winning the IPE award gives us ...
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Features
Nestlé optimises plan design to fit new opportunities
The beneficiaries of the Nestlé pension plan pay a fixed contribution of 2% of their respective salaries into the Nestlé Pensionskasse (NPK). In return they receive the benefit of participation in the Nestlé Versorgungkasse’s (NVK) defined benefit (DB) plan. The Nestlé Rückdeckungskasse (NRK) is a support fund, which serves the ...
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Features
Second time around achievement in much tougher contest
The staff at Germany’s Nestlé Pensionskasse VVag were naturally delighted to discover that they had won another IPE Award, this time for fund administration, following their success in the country category in the inaugural awards of 2001. “We reckon it was our efficient and ‘one-class system’ approach to the fund’s ...
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Features
ESB's DC redesign enhances flexibility
The E6m ESB Subsidiary Companies Pension Scheme provides retirement benefits and protection in the event of death for employees of subsidiary companies of the Electricity Supply Board. A separate scheme provides benefits in the event of prolonged disability. The schemes were set up in 1991 to provide for the employees ...
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Features
External recognition of quality of revamped plan
The Dublin-based Electricity Supply Board Pension Scheme (ESB) ESB is delighted to have won an IPE Award for the second consecutive year. Last year it was for investment strategy but this year the ESB has picked up the prestigious country leader award for fund structure. “In a defined contribution (DC) ...
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Features
Centrum PensPlan's seal of quality
Centrum PensPlan is the company set up to develop all the necessary operations for the regional Trentino Alto Adige’s supplementary pensions provision project. It also has a mandate to offer economic support by helping people in temporary financial difficulty make their fund contributions and provide adequate guarantees concerning the retirement ...
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Features
Award provides opportunity to spread message to others
What the judges said: “Pens Plan is a pension fund which deserves very high scores both for Investment Strategy and Fund Structure & Administration.” Winning an IPE award does not come as a surprise to PensPlan, which last year seized Italy’s investment strategy award, but for 2002, the Italian scheme ...
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Features
PGGM integrates DC into main scheme
The €47bn PGGM scheme is a compulsory pension arrangement for the 950,000 or so employees in the Dutch healthcare and social work sector. Until May this year, the pension scheme was entirely defined benefit (DB) in orientation. This changed with the introduction of the PGGM Extra Pension, which provides a ...
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Features
Award underpins role of providing quality retirement
One of the commendations that PGGM received from the judges was on its move to provide a defined contribution product PGGM Extra Pension(PEP) alongside its main defined benefit scheme. “Greater individualisation and flexibility are not in conflict with solidarity.” The move was seen as an innovative step. At the fund ...
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Features
CNA combines three into one
The pension plan for employees of Spain’s Central Nuclear de Almaraz, AIE, is the only one connected to the Santander XXV pension fund, and had 530 members and beneficiaries and an asset base of €11.6m. The scheme resulted from an agreement to transform three collective insurance funds – capitalised pension ...
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Features
Working through complexities of externalisation
For a small pension fund like the pension fund for the employees of the Central Nuclear de Almaraz (CNA) in Spain, winning the IPE award for best fund structure and administration in Spain came as nice surprise, only two years after the fund was created. With around €12m under management ...
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Features
AP7 uses its internet trade reporting system to benefit savers
The Stockholm-based Seventh Swedish National Pension fund, the AP7, describes itself as “a fund option for the entire nation”. Set up just over two years ago, it is different from the other six national pension funds that form part of the restructured state pay-as-you-go (PAYG) system. Firstly, AP7 is a ...
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Features
Focus on IT developments has been key part of strategy
AP7 has won an IPE Country Award for fund structure and administration in Sweden. The AP7 national fund is the default fund of the Swedish PPM system set up two years ago. Since then, the developments within the PPM system and the AP7 fund itself have been closely followed by ...
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Features
CSIF aims for benefit transparency
The Canton of Zurich Civil Service Insurance Fund (CSIF), prides itself on the clear and accessible way in which it communicates with its members. “The broad information, the transparency and efficiency of the insurance and investment services over the last few years make us believe that the CSIF belongs to ...
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Features
Award provides a 'peer group benchmark' for the fund
What the judges said: “Clearly structured and informative website which also answers most FAQs.” One of the key benefits of winning an IPE Award for the Zurich-based Beamtenversicherungskasse, the Civil Servants Insurance Fund (CSIF), is the international and domestic exposure it brings. “In Switzerland the employer decides whether an independent ...
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Features
Rapid response to Swissair crisis
Within hours of the collapse of Swissair last October, the powers-that-be at the group’s various pension schemes, worth collectively SFr11bn (e7.5bn) at the time, decided to take action to protect its assets and members. Before the funds could be dragged down with the bankruptcy proceedings and see their assets exposed ...
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Features
Responding to courage and vision
Courage and vision are the two key attributes that the management of Pension Fund Services (PFS), the pension fund company created by the boards of the three main pension schemes in the Swissair group following the latter’s demise last year, believes convinced the judges to give PFS the IPE Award ...
