All IPE articles in March 2009 (Online)
View all stories from this issue.
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NewsLAPFF adds pressure for independent M&S chair
[17:05 CEST 31-03] UK – The Local Authority Pension Fund Forum (LAPFF) has tabled a shareholder resolution calling for Marks & Spencer to appoint an independent chairman by July 2010, following the company's failure to split the roles of chairman and chief executive.
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NewsTrustees advised to consider short-term activity
[17:05 CEST 31-03] IRELAND – The Pensions Board has argued trustees need to think more about sustainability and the impact of short-term events on long-term promises if defined benefit (DB) schemes are to be a “viable alternative” to defined contribution (DC) funds.
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NewsBank of England scheme pre-empted crisis
[17:00 CEST 31-03] UK – The Bank of England Pension Scheme appeared to almost pre-empt the financial crisis of last year as it returned 12% in the year to February 2008 and reduced equity holdings so it could invest in index-linked gilts.
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NewsNational funding rules deter multinational derisking
[16:50 CEST 31-03] GLOBAL – AEGON Global Pensions has warned local regulations on pension fund governance have added an extra layer of complexity for multinational companies who want to derisk pension schemes.
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NewsNAEV reaches required actuarial rate
[16:40 CEST 31-03] GERMANY – Nordrheinische Ärzteversorgung (NAEV), the German doctors’ pension fund, has managed to reach the required actuarial rate of 4%, IPE has learned.
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NewsIrish funds drop 23% 'but could have been worse' - IAPF
[16:30 CEST 31-03] IRELAND – Irish pension schemes lost almost €20bn in 2008, but this is “less than might have been expected” following reductions in equity allocations to domestic stocks, The Irish Association of Pension Funds (IAPF) has revealed.
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NewsCroatia pensions threatened with second pillar opt-out
CROATIA – Croatian pension funds have a “cloud of insecurity” hanging above them, according to market experts, following a statement by the prime minister claiming the mandatory second pillar had been “a failure”.
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NewsABP opts for rise in premiums and lower risks
[15:45 CEST 31-03] NETHERLANDS - ABP will temporarily increase contributions by 1% as of July and by another 2% from 1 January 2010, in a bid to restore the underfunded civil servants’ pension scheme to its required regulatory funding level.
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NewsMercer and Callan merger is off
[15:15 CEST 31-03] US – Callan Associates, the North America-based adviser to institutional investors, and Mercer Investment Consulting have called off the planner merger of their investment consulting businesses.
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NewsStrathclyde's pension deficit keeps growing
[17:00 CEST 30-03] UK – Strathclyde pension fund has revealed its pension deficit more than doubled to £486m (€523m) at its last actuarial valuation, although a recent snapshot of the scheme’s position showed there has been a further fall in its funding position.
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NewsFormer Compendeon CEO targets emerging markets
[16:55 CEST 30-03] NETHERLANDS – Erik van Dijk, former chief executive and chief investment officer at Compendeon, has set up a new implemented consulting business with a strong focus on emerging markets.
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NewsSagoenie new chairman actuaries
[16:50 CEST 30-03] NETHERLANDS - The Dutch Actuarial Association (AG&AI) has appointed Rajish Sagoenie as its new chairman.
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NewsPFZW bases recovery plan on 6.9% yield
[16:45 CET 30-03] NETHERLANDS - Pensioenfonds Zorg & Welzijn (PfZW), the Dutch industry-wide pension fund, is pinning its hopes on achieving a yield of 6.9% alongside with a long-term interest rate of 3.6%, as the basis for its recovery plan presented to the financial regulator.
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NewsFI to roll traffic light model into barometer
[16:40 CEST 30-03] SWEDEN – Finansinspektionen (FI), the Swedish Financial Supervisory Authority, is incorporating its existing ‘traffic-light’ model of stress-testing into a new ‘insurance barometer’.
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NewsAMF's problems grow over executive pensions
[16:30 CEST 30-03] SWEDEN – The board of AMF Pension, the Swedish pensions provider, claims it has been misled about the size of the pension its former chief executive Christer Elmehagen should have received and is demanding over SEK24m (€2.18m) be repaid to the firm.
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NewsPME backtracks on plan to cut benefits
[16:00 CEST 30-03] NETHERLANDS – PME, the €18.7bn industry-wide pension fund for metal workers, has decided it will not cut pensioner benefits as part of its proposals to improve the underfunded pension plan but it will freeze benefits paid and the contributions required for the next five years.
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NewsIrish funds may have to consider the 'unthinkable'
[13:30 CEST 30-03] IRELAND – Attain Consulting has warned more ‘radical’ solutions to underfunding in Irish pension schemes may be needed, including the “unthinkable’ action of changing accrued benefits.
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NewsDutch funds given go-ahead to merge
[30-03 CEST 13:00] NETHERLANDS - Dutch company pension funds will be allowed to merge their activities into a multi-company scheme as the cabinet has backed a proposal by social affairs minister Piet Hein Donner to amend the current Pension Act accordingly.
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NewsFootballer scheme’s positive return from 100% fixed income
[17:10 CET 27-03] NETHERLANDS - The €560m ‘pension fund’ for Dutch professional football players generated positive returns of 1% after allocating all its assets to fixed income investments in mid-2008.
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NewsDNB still insists on April date for recovery plans
[17:05 CET 27-03] NETHERLANDS - Pensions regulator De Nederlandsche Bank (DNB) insists on pension funds submitting their recovery plans before 1 April, despite easing the rules on recovery.
