All IPE articles in March 2009 (Online) – Page 8
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NewsPensions ombudsman to highlight possible tax offences
[17:00 CET 06-03] IRELAND – The Pensions Ombudsman has stated information relating to possible tax offences uncovered through its own inquiries will be passed to the Irish Revenue Commissioners under a new memorandum of understanding.
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News2012 contributions may be less than expected
[16:55 CET 06-03] UK – Watson Wyatt has warned workers auto-enrolled into occupational schemes after 2012 could have an “exaggerated impression” of the size of their pension as typical minimum contribution rates into qualifying pension schemes will never be more than 6.8% of gross earnings.
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NewsGerman pension vehicles to diversify - Mercer
[16:45 CET 06-03] GERMANY – Retirement providers in Germany are likely to maintain one of the lowest equity exposures in Europe as a result of recent market turbulence but will continue to diversify into other strategies, consultancy Mercer has told IPE.
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NewsNorway government global falls to NOK2.1trn
[16:30 CET 06-03] NORWAY – The value of the Government Pension Fund – Global fell in value in January by over NOK1.5bn (€160m) to NOK 2.1trn (€235.9bn).
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NewsSchemes struggle with integrity - KPMG
[16:20 CET 06-03] NETHERLANDS - Many Dutch pension funds are struggling to meet their own governance criteria on integrity policy, consultancy firm KPMG has suggested.
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NewsCommittee to screen schemes’ investment policy - Donner
[16:00 CET 06-03] NETHERLANDS - Social affairs minister Piet Hein Donner will establish an independent committee to find out whether the investment policy of pension funds has landed them in their precarious financial position following the credit crisis.
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NewsEtera drops €1bn in 2008
[14:00 CET 06-03] FINLAND – Etera Mutual Pension Insurance Company saw its market share fall to 5.6% in 2008 and has reported an overall loss of €1.03bn following a negative investment performance.
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NewsMPK underfunded for the first time
[17:10 CET 05-03] SWITZERLAND – The CHF14.8bn (€10bn) pensionskasse for the Swiss retail giant Migros (MPK) has fallen to a 97.1% funding level after delivering a negative return of 12.3% last year.
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NewsUnion anger over Finnish retirement increase
[17:10 CET 05-03] FINLAND – The three trade union confederations in Finland are organising a national meeting of trustees, or shop stewards, next week against the government's plans to increase the retirement age without consultation.
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NewsPPF appoints CIO
[17:00 CET 05-03] UK – The Pension Protection Fund (PPF) has appointed Ian McKinlay as chief investment officer to the fund.
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NewsGovernment pension fund - Norway drops €3bn
[17:00 CET 05-03] NORWAY – The Government Pension Fund – Norway lost NOK 29.6bn (€2.95bn) in 2008, according to the latest figures from Folketrygdfondet.
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NewsECJ passes Heyday case back to UK High Court
[16:55 CET 05-03] EUROPE/UK – The European Court of Justice (ECJ) has argued it is "ultimately" for the UK High Court to decide whether the default retirement age of 65 breaches age discrimination legislation.
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NewsLetter will do instead of indexation label - AFM
[16:45 CET 05-03] NETHERLANDS - Pension funds will be allowed to inform their participants about the effects of the credit crisis on their pension in a letter, rather than through the prescribed label on indexation quality.
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NewsAviva bucks trend to increase assets in 2008
[16:35 CET 05-03] GLOBAL – Aviva Investors, the asset management division of Aviva Group plc, managed to increase its group funds under management last year and keep third-party assets stable, though profits earned from the division have fallen by over 20%.
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NewsPension fund advice leads to take-up of AVCs
[16:00 CET 05-03] UK – The West Midlands Pension Fund is running an initiative giving its over 50s members free financial advice and which has in turn led some members receive an extra 20% tax free on some of their pension savings.
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NewsPension guarantee against law, says supervisor
[17:20 CET 04-03] AUSTRIA – The Austrian supervisor FMA has criticised ÖPAG Pensionskasse for offering guarantees in a recently-signed contract with the University of Vienna.
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NewsIrish committee to examine NPRF ethical issues
[17:15 CET 04-03] IRELAND – The government has announced it is to establish an “interdepartmental committee” to examine the possibility of introducing ethical investment guidelines for the National Pension Reserve Fund (NPRF).
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NewsITV considers DB changes as deficit hits £178m
[17:15 CET 04-03] UK – ITV, the commercial broadcast company, has reported a “lower than speculated” £178m (€200m) deficit in its defined benefit (DB) pension scheme but confirmed it is to begin a consultation on possible changes to the plan.
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NewsGlobal custody continues to deliver
[17:10 CET 04-03] GLOBAL – Global custody services have achieved record satisfaction levels among customers and remain strong despite the financial crisis, according to the 2009 R&M Consultants Global Custody Survey.
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NewsIrish managed funds drop 7.5% in 2009
[17:05 CET 04-03] IRELAND – The average Irish group managed pension fund dropped a further 5.7% in February bringing the total return for 2009 to -7.5%, Rubicon Investment Consulting has revealed.
