All IPE articles in March 2009 (Online) – Page 5
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NewsShell warns of need to plug €6.3bn deficit
[15:45 CET 18-03] GLOBAL – Royal Dutch Shell plc, the parent sponsor of several European funded and unfunded pension schemes, today warned shareholders it may have to contribute a further $5-6bn (€3.8bn-€4.56bn) to its pension funds over the coming years to fill a deficit of $8.3bn.
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NewsAuto-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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NewsFinnish 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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NewsPolish gov’t to slash pension fund contribution
POLAND – The Polish government would like to see several changes to the mandatory second pillar including contribution and fee cuts, the introduction of a life-cycle model as well as alterations to the sales procedure.
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NewsDWP 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.
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NewsIslington splits global equity mandate
[17:10 CET 17-03] UK – The London Borough of Islington has split a global equity contract valued at up to £250m (€275m) between two managers.
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NewsMarket volatility 'unlikely to drive buyouts'
[17:05 CET 17-03] UK – Market volatility has prompted 44% of trustees to consider transferring pension scheme risk, but consultants have warned timing is “key” so it is unlikely this will transfer into business for the bulk annuity market this year.
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NewsHabitat appoints SEI as fiduciary manager
[16:55 CET 17-03] UK – SEI has been appointed as the fiduciary manager to the £24m (€26m) Habitat UK Pension and Life Assurance Plan.
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NewsTrustee knowledge maximises consultancy service
[16:50 CET 17-03] EUROPE – Pension fund executives and trustees can get more from their relationships with and the services delivered by consultants by improving their own knowledge base, suggests a study conducted by IPE.
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NewsEureko to shed 2,500 jobs after €2.1bn loss
[16:15 CET 17-03] NETHERLANDS –Eureko chairman Willem van Duin said the insurer and pensions provider will shed 2,500 jobs within the next two years in a bid to save €300m, after reporting the firm lost €2.1bn last year largely through poor performance on its investment portfolio and at associated companies.
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NewsStay online with the Dutch pensions market – in Dutch
NETHERLANDS - IPE, Dutch sister title, IP Nederland, is now regularly updating its Dutch language pensions site with the latest news, analysis and commentary.
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NewsTarget funds to return, or will they?
[17:25 CET 16-03] EUROPE – Target return managers will see major inflows into their funds in the wake of the crisis, but not all pension funds will be receptive to this type of product, an investment consultant has argued.
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NewsMyners wants legal governance duty for managers
[17:20 CET 16-03] UK – Lord Myners has suggested the Institutional Shareholder Committee (ISC), established in response to his review of institutional investment in 2001 "has not really achieved anything".
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NewsNorway places Siemens under 'observation'
[17:15 CET 16-03] NORWAY – The Norwegian Government Pension Fund – Global pension fund has excluded a Chinese company for selling military trucks to Burma and is monitoring Siemens over concerns of "gross corruption".
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NewsPension funds file class action against RBS
[17:10 CET 16-03] GLOBAL – Two UK local authority pension funds and the Dutch metalworkers fund have filed a motion to become lead plaintiffs in a US class action against Royal Bank of Scotland (RBS).
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NewsPADA mulls target date approach as default
[17:05 CET 16-03] UK – The use of target date funds as the default for the personal accounts system is a “serious proposition” to be put forward in an investment consultation from the Personal Accounts Delivery Authority (PADA) later this year.
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NewsActuaries claim raising AOW age is unnecessary
[17:00 CET 16-03] NETHERLANDS - A gradual rise in the official Dutch retirement age from 65 to 67 is not necessary and undesired, the Actuarial Society (AG) has suggested, as transitional rules for the creation of additional savings schemes will make pensions much more complex, expensive and time-consuming.
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NewsPension funds consider valuation date shift
[16:45 CET 16-03] UK – Pension funds might be able to improve their pension funding valuations by a fraction if they shift the exact date on they assess all of their assets each year away from popular target dates in December and March.
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NewsPensioners work longer for incentives - APG
[16:25 CET 16-03] NETHERLANDS - APG Group has presented evidence suggesting pension funds’ participants will work for almost 18 months more than they originally planned before retiring if they are incentivised to do so.
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NewsPension scheme looks to China
[16:55 CET 13-03] NETHERLAND – A Dutch pension scheme is looking for an asset manager to run a €10m Chinese equity mandate, using IPE-Quest.
