All IPE articles in March 2009 (Online) – Page 2
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NewsRoyal Mail trustees 'agnostic' about part-privatisation
[16:50 CET 27-03] UK – Trustees of the Royal Mail Pension Scheme have written to all 450,000 members to confirm it “has no position” on government plans for the part-privatisation of Royal Mail.
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NewsONS to monitor signs of DC 'levelling down'
[15:00 CET 27-03] UK – The Office of National Statistics (ONS) intends to monitor changes in the average level of employee and employer contribution rates to contracted-in defined contribution (DC) schemes to see if there are signs of “levelling down” ahead of 2012.
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NewsNBIM wants improvement in child labour policies
[14:00 CET 27-03] NORWAY – Norges Bank Investment Management (NBIM) has revealed an "overall low" level of compliance with its expectations on children's rights across four investment sectors.
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NewsPensionskassen see no growth again
[13:00 CET 27-03] GERMANY – Contributions to pensionskassen and pensionsfonds have stagnated for the second year in a row, according to GDV, the umbrella organisation of private insurers.
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NewsPowys 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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NewsCredit 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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NewsPPM sees info as priority for new Swedish authority
[16:50 CET 26-03] SWEDEN – The development of a new pension authority to cover both the state pension and the Premium Pension savings will be a “golden opportunity to increase knowledge and interest on pensions”, the Premium Pension Authority (PPM) has claimed.
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NewsICTU 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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NewsNorway targets ageing via an active workforce
[16:30 CET 26-03] NORWAY – Increasing labour market participation and extending working lives is a “key response” to the challenges of an ageing population that could see the number of people over the age of 67 double over the next 50 years.
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NewsSwiss postal fund gets CHF250m injection
[16:15 CET 26-03] SWITZERLAND – The pension scheme of the Swiss Post is once again missing billions, having already received several rounds of funding, so its sponsor company is now intending to plug the hole with more money.
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NewsPfZW and AP4 sue BoA over Merrill disclosure
[16:00 CET 26-03] GLOBAL – Dutch industry-wide pension fund Stichting Pensioenfonds Zorg en Welzijn (PfZW) has teamed up with four other schemes, including Sweden’s fourth buffer fund, AP4, to sue Bank of America for compensation over apparent non-disclosures relating to the purchase of Merrill Lynch.
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NewsDonner allows three-year leeway on pension cuts
[16:45 CET 26-03] NETHERLANDS - Pension funds working on short-term recovery plans are not required to cut benefits during the next three years, according to Social Affairs’ minister Piet Hein Donner.
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NewsDutch schemes lost 17% in 2008 - DNB
[15:30 CET 26-03] NETHERLANDS - Dutch pension funds lost an average of 17% on investments in 2008, according to pensions regulator De Nederlandsche Bank.
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NewsMan sees outflows despite AHL gains
[15:15 CET 26-03] GLOBAL – Man Investments, the UK-based hedge fund manager, has predicted its assets under management fell by 36% in the year to the end of March 2009, through a mixture of institutional outflows and losses on investments and currency fluctuations.
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NewsUnions ponder 'next steps' over Waterford pension
[17:00 CET 25-03] IRELAND – Trade unions are considering their next steps against the Irish government over the fate of Waterford Crystal pension fund, but may still pursue legal action concerning the enactment of EU pension rules.
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NewsFinnish pensions to fall as bank predicts 5% GDP drop
[16:55 CET 25-03] FINLAND – Suomen Pankki, the Bank of Finland, has warned economic recovery has been delayed until 2010 and the value of pension funds will fall, as the predicted 5% growth in real GDP between 2008-10 is now expected to be a 5% decline.
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NewsIAPF warns gov't against pension tax cuts
[16”50 CET 25-03] IRELAND – The Irish Association of Pension Funds (IAPF) has warned the government against cutting tax relief on pensions to provide short-term financing, in a pre-emptory move ahead of the Irish supplementary budget in April.
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NewsSwiss parliament rejects tougher investment rules
[16:45 CET 25-03] SWITZERLAND – The smaller chamber of the Swiss parliament has rejected a motion by the Social Democrats to ban certain types of investments, such as hedge funds, within pensionskassen.
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NewsNetherlands to raise state retirement age
[16:40 CET 25-03] NETHERLANDS - The Dutch government has said it will raise the official retirement age from 65 to 67, unless social partners can come up with acceptable alternatives.
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NewsUnilever's Progress sees returns plummet 26%
[16:30 CET 25-03] NETHERLANDS – Progress, the Dutch pension fund of household goods giant Unilever, saw the value of its assets drop by almost €1.2bn or 26% in 2008, as its investment strategy struggled to cope in turbulent markets.
