Latest – Page 237
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NewsCrisis allowed trustees to tap contingent assets
[16:00 CET 19-01] UK - The use of contingent assets has grown by 30% in the past year as UK defined benefit pension schemes grappled with some of the worst funding levels since records began.
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NewsWaltham Forest drops ECM after strategy review
UK - The £340m (€387m) London Borough of Waltham Forest pension fund is moving to an aggressive investment strategy which will see European Credit Management (ECM) terminated from a £41m brief.
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NewsRising life expectancy blocks Hoogovens’ indexation
[15:30 CET 18-01] NETHERLANDS - The €6bn Dutch pension fund of steelworks Corus has decided not to pay indexation, and has instead set aside assets to cover an anticipated increase in life expectancy.
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Nominal GDP swaps 'could be key to DC guarantee'
[16:20 CET 14-01] EUROPE – Officials at the Bank of Italy have been working on a proposal to create a public swap-based return guarantee for members of defined contribution funds.
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Mandate roundup: Kensington & Chelsea, Norges Bank, Tower Hamlets, LAPFF
[16:00 CET 14-01] EUROPE - The Royal London Borough of Kensington and Chelsea this week confirmed it has found a new passive investment manager, with fellow London Borough Tower Hamlets is searching for an absolute returns manager, hot on the heels of its search for a multi-asset passive investment manager.
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Investors to follow pre-turmoil strategies - research
[16:30 CET 12-01] EUROPE – European institutional investors look set to maintain the portfolio strategies they held prior to recent market turbulence, suggests research. But German firms may be thinking of bringing more external management back in-house.
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Swiss gov't to keep lump sum pension tax advantages
[16:00 CET 12-01] SWITZERLAND – People who choose to take lump sum payouts at retirement get tax advantages under the Swiss mandatory second pillar compared with those who choose regular pension payments. And it is going to stay this way, according to the government.
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FTK only needs fine-tuning, claim Dutch actuaries
[14:30 CET 12-01] NETHERLANDS – The Dutch Actuarial Society (AG) believes the existing financial assessment framework for pensions (FTK) requires only fine-tuning and is not in need of a major overhaul.
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Merging LGPS 'impossible' for governance reasons
[13:00 CET 12-01] UK – The case for merging the administration of the Local Government Pension Scheme (LGPS) is strong enough to overcome any minor obstacles, however the practicalities of consolidating the investment side would be “difficult if not impossible”, according to a former manager of two LGPS schemes.
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Young Germans put pensions back on the agenda
[16:50 CET 11-01] GERMANY – Young Germans are thinking about supplementary retirement provision again for the first time since 2008, according to a study conducted by Union Investment.
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Pensions funds consider shift back into property
[16:40 CET 11-01] EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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Pensions risk could be traded under new DC design
[15:45 CET 11-01] EUROPE – A proposal for a new type of guaranteed defined contribution pension scheme has been unveiled, which splits members into age-based funds and then allows them to trade certain benefits or assets between each other.
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Experts warn of cracks in pension NEST egg
UK – The new national workplace pension scheme that will begin operating early next year has been rebranded as the National Employment Savings Trust (NEST). However, pensions experts say they are still concerned about the impact of means-testing and the delay of full implementation until 2017.
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APG presents solutions to collective DC risk sharing
[15:45 CET 08-01] NETHERLANDS/UK – APG Asset Management has presented proposals to create hybrid collective pension schemes using age-differentiated lifecycle investing – a move that could help spread risk between generations.
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Kesko becomes latest corporate to transfer pension
[15:30 CET 06-01] FINLAND - Kesko, Finland’s main trading sector services provider, has followed a trend set by several other employee sponsored pension schemes in Finland and announced it will transfer the management of its statutory pension provision to €22.9bn Ilmarinen Mutual Pension Insurance Company.
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NewsWithout risk there is no need for funded systems – VFPK
[15:30 CET 23-12] GERMANY – Funded pension vehicles need to take some risks to ensure added value for employees, says Peter Hadasch, head of the German federation of company pension schemes VFPK.
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Not a good time for interest rate matching - IPE survey
[15:00 CET 23-12] EUROPE - Now is not a good time to use assets to match interest rate risk in a liability-driven investments (LDI) strategy. Bond yields are too low and assets are better employed seeking yield elsewhere, according to 61.5% of pension funds responding to an IPE survey.
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NewsSSgA wins Clwyd absolute return mandate
[16:00 CET 22-12] UK – Flintshire County Council has appointed State Street Global Advisors (SSgA) to run a £20m (€22.4m) absolute return mandate for the Clwyd Pension Fund.
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NewsPfZW hopes to secure new pensions contract in 2010
[14:00 CET 22-12] NETHERLANDS – Officials at PfZW, the €81.9bn industry-wide pension fund for Dutch healthcare workers, are hoping by next summer to have completed a three-year bid to secure a new pensions contract for all of its members and partners.
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NewsSwiss Alcan pension secures recovery plan
[13:30 CET 22-12] SWITZERLAND – The Swiss multi-employer fund Alcan will be levying additional contributions next year, under a new head who has yet to be named.
