Latest from IPE Magazine – Page 684
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Features
Boots shows another way
The Boots pension scheme is one of the 50 largest UK pension funds, with 72,000 members and £2.3bn of assets (e3.75bn). A move last year to invest 100% of the fund’s assets in long dated bonds, however, made it one of the country’s, if not the continent’s, most talked about ...
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Features
Boots win highlights shift to risk management issu
The move made by the Boots pension fund in the UK to shed all its equities and to do so before the severe declnes in the market have provoked considerable comment in the market. It is clearly one of the funds, and perhaps the most clearcut example, of the general ...
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Features
Why LPFA is contrarian
As one of the largest providers of the Local Government Pensions Scheme (LGPS) in the UK, the LPFA fund provides defined benefit (DB) pensions for the employees of over 220 organisations in the non-profit sector, as well as delivering administration services to eight London boroughs amongst other organisations – giving ...
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Features
Wiinning shows importance of different allocations
What the judges said: “We were particularly impressed by the clarity of LPFA’s submission and by the fact that their investment strategy has not been set in light of recent trends but was established a number of years ago pre “Myners”. Amanda Walker, head of finance and investment says the ...
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Features
For Belgacom governance is key
Belgacom, the largest pension fund in Belgium, is structured as a DB fund for 31,621 employees, it promises its members 75% of final salary with benefits linked to inflation. The benefits covered under the scheme include social security pensions, a special early retirement programme (PTS), disability pension, and, from the ...
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Features
FP Métal opens door for sector plans
When employers and trade unions in the Belgian metal industry came together in 1999 to discuss the formation of what was to become the Fonds de Pension Métal, it was the first time ever that a sector-wide plan had been contemplated to provide an occupation-related pension plan for a group ...
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Features
Acknowledgement for the hard work in creating a new model
The Fonds de Pension Métal (FPM), Belgium’s sector-wide pension fund for its 150,000 metal industry workers, was delighted to learn that it had won the IPE Award for fund structure and innovation. A number of judges welcome it as the first real moves to establishing industry or sector structures. “Winning ...
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Features
PBU works out to 'get fit'
The Pensionskassen for Børne- og Ungdomspædagoger (PBU) scheme has more than 72,000 members with premium benefits of DKK1.3bn (e175m) a year. Before the end of 2000, PBU had been wholly administered by Sampension. At that time, PBU had been imbued with a defensive attitude, costs that were deemed far too ...
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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 ...
