All IPE articles in May 2005 (Online) – Page 4
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AXA survey backs Anglo-Saxon retirement model
GLOBAL – A survey of global retirement trends by French financial services group AXA has found that the Anglo-Saxon retirement model leaves people happier than other systems.
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Mercer London chief Couchman quits
UK – Paul Couchman, head of the central London operations at Mercer Human Resource Consulting and former head of UK administration, is to leave the firm shortly.
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Germany’s Riester pensions start to take off
GERMANY – Sales of the so-called Riester pensions seem to be taking off, according to new figures from insurance firm AMB Generali.
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ING IM’s institutional assets fall 17%
NETHERLANDS – Institutional assets under management at ING Investment Management have fallen 17.2% to €99bn, following the sale of Baring Asset Management.
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IPE-QUEST: MidEast investor tenders $200m
MIDDLE EAST – A UK-based consultant has tendered $200m (€157.4m) for Nordic hedge fund ma
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NAPF: Faulkner berates government
UK – The government’s understanding of how to manage pensions is on a par with that of trustees and it too needs education, the outgoing chairman of the National Association of Pension Fund said today.
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NAPF: PPF chief discusses benefits
UK - The new Pensions Protection Fund would only cut benefits as a “last resort” says PPF chairman Lawrence Churchill.
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TIAA-CREF CFO steps down amid SEC probe
US – Elizabeth Monrad, chief financial officer at US educational pension fund group TIAA-CREF, has stepped down because she is being investigated in relation to the General Re affair.
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Turkey expects approval for pension reform
TURKEY – The Turkish government says it expects parliament to approve the new pension reform law by the end of June.
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Fidelity institutional chief joins Odey
EUROPE - David Stewart, president of Fidelity International's European institutional business, is to join Odey Asset Management as chief executive.
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Pension compulsion debate returns to UK
UK – The issue of whether people should be forced to save for their pensions seems to be back on the political agenda following remarks from new pensions secretary David Blunkett.
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Germany’s PAYG reserve falls to new low
GERMANY - The sustainable reserve for Germany’s state-run pay-as-you-go pensions scheme hit a new low in April, sparking fears that the reserve may be too small to cover estimated deficits for this year and next.
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NAPF: Turner says pension system unfit
UK - Adair Turner says that almost all the new information gathered since his Pension Commission’s first report last October has confirmed that the existing system “is not fit for purpose”.
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Kas Bank says commission income rises 10%
NETHERLANDS - Kas Bank’s commission income developed in line with the last-year’s trend – a rise of approximately 10% - during the first quarter of 2005, it said in a statement.
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NAPF: Myners calls for transparent voting
UK - The government should require institutional investors’ voting to be “a matter of public record” says Paul Myners, author of a 2001 report on institutional investment.
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Pensions a “massive market” says Allianz
GERMANY - German insurance giant Allianz says the private retirement field is a “massive market”.
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NAPF: Blunkett calls for consensus
UK – David Blunkett, the new secretary of state for work and pensions, has called for cross-party and popular consensus to find a long-term solution to the pension crisis.
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Croatian pension funds regret regulator merger
CROATIA - Croatia is to merge three of its four financial institution regulators in a move that is unpopular with the pensions industry.
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Low interest rates hit KLP’s investment income
NORWAY – KLP, the mutually owned life insurance and asset management group, says its investment income in the first quarter was hit by low interest rates and weaker stock markets.
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Italian pension saving rules miss deadline
ITALY – New retirement saving legislation that had been expected by the first half of May has failed to materialise.
