Latest – Page 254
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Powys seeks global equity replacement
[12:00 CET 27-03] UK – Powys Council is seeking a global equity manager to manage a £27m (€28.9m) mandate, while the Royal borough of Kensington and Chelsea (RBKC) is tendering an actuarial contract.
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Credit Suisse challenges M&S’s pensions calculations
[11:00 CET 27-03] UK – Marks & Spencer, the high street chain, is likely to face higher than anticipated pensions liabilities at its next triennial review, according to an analyst at Credit Suisse, as the calculations the firm used to establish its discount rate is substantially higher than its peers ...
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ICTU calls off pension strike to enter talks
[16:40 CET 26-03] IRELAND – The Irish Congress of Trade Unions (ICTU) has called off next week's planned one-day national strike over pensions, and is returning to talks with the government over the development of an "integrated national response".
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DNB sticks firm to yield curve for liabilities
[17:20 CET 23-03] NETHERLANDS - Pensions regulator DNB is sticking to its earlier position stating it will not consider an instrument change for calculating liabilities, despite continued calls from the industry.
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Governance and funding to be scrutinised - Omtzigt
[17:15 CET 23-03] NETHERLANDS – A Dutch MP has warned local pension fund executives and trustees must expect tougher scrutiny in the coming months as questions will be asked as to “what went wrong” with and who is responsible for current funding levels.
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ANWB proposes 'creative' plug to pensions gap
[16:15 CET 23-03] NETHERLANDS – ANWB, the executive body of a motorists’ lobbying organisation, has proposed to plug the financial hole in its pension fund with an agreed 3.3% salary increase.
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Icelandic pension funds under investigation
[17:20 CET 20-03] ICELAND – Iceland's special prosecutor is investigating five pension funds over claims they exceeded the investment limits laid down by law.
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Lothian to revise investment strategy
[17:20 CET 20-03] UK – An investment review of the Lothian pension fund is recommending changes to its investment strategy including an 11-percentage point increase in alternatives.
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Social security fund lost 18%
[20-03] SWITZERLAND – The AHV/AVS Swiss Social Security pension fund saw its assets under management fall by 18.2% in 2008 and is now reviewing the timeframe within which it makes asset allocation decisions as a result.
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BLPK returns -14.78%
[16:55 CET 20-03] SWITZERLAND – The Basellandschaftliche Pensionskasse (BLPK) saw its assets plunge to CHF4.3bn (€2.9bn) from CHF5.2bn the year before following a return of -14.78%.
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Newham makes first move towards diversified alternatives
[16:50 CET 20-03] UK – The London Borough of Newham pension fund is planning to allocate approximately 10% of its assets in a diversified alternatives strategy and has now taken the first step towards appointing a manager.
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ING to boost DB schemes by €814m
[16:30 CET 20-03] GLOBAL – ING Group, the Netherlands-headquartered life and pension provider, is boosting its own pension fund with an extra contribution worth €814m this year in a bid to help clear the company’s pension deficit.
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PPF consults on solution to s161 concerns
[17:10 CET 19-03] UK – The Pension Protection Fund (PPF) is consulting on a solution to address concerns regarding its powers to “disclaim” an investment contract when a scheme enters the PPF.
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Fully-reinsured pensions face trouble - DNB
[17:00 CET 19-03] NETHERLANDS - Dozens of Dutch company pension funds who reinsured their assets and liabilities are now being challenged by market conditions and confronted with increased credit risks at their reinsurers, according to financial regulator DNB.
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Interest rate hedging pays off at Industriens
[16:45 CET 18-03] DENMARK – Industriens Pension generated a positive 4.4% gross return in 2008 by hedging all of its interest rate risk.
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Turkish insurer to unveil pensions offering in H2
TURKEY - Deniz Emeklilik ve Hayat, the life insurance and private pensions operation of Turkey’s Denizbank, is planning to enter the Turkish pensions market and launch is set for July this year.
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Pension system risks underestimated - DNB
[16:00 CET 18-03] NETHERLANDS - The current Dutch pension system carries more risks than expected because the existing management instruments are less effective than envisaged, De Nederlandsche Bank is understood to have acknowledged.
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Auto-enrolment 'postponement' will double contributions
[12:30 CET 18-03] UK – Employers have been given some flexibility in the implementation of auto-enrolment in 2012 with the provision of a three-month ‘postponement’ in return for a doubled contribution.
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Finnish local gov't scheme loses €4.3bn
[17:20 CET 17-03] FINLAND – The Local Government Pensions Institution (Keva) reported a negative net investment return of -20.6% in 2008 as the value of its assets fell to €20bn.
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DWP auto-enrolment regs "bureaucratic"
[17:15 CET 17-03] UK – Draft regulations on the practical arrangements for auto-enrolment into pension schemes from 2012 are "overly bureaucratic", according to the pensions industry.
