All IPE articles in May 2005 (Online) – Page 9
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News
Royal Mail pensioners fear scheme wind-up
UK – Pensioners of the Royal Mail pension scheme, which is £2.5bn (€3.6bn) in deficit, have voiced concerns about a possible closure or wind-up of the fund.
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Sweden presents occupational pensions bill
SWEDEN - The Swedish government was today set to present a bill to parliament to implement the EU directive on occupational pensions.
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Man Group names institutional sales head
UK – Hedge fund group Man has named Piers Westerman to the new role of global head of institutional sales.
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Trichet says pensions a factor in market growth
EUROPE – European Central Bank president Jean-Claude Trichet has identified higher demand for pensions as one of the factors behind the growth of financial markets.
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Norway sees lower returns amid low bond yields
NORWAY – The Norwegian central bank has flagged up the impact of low bond yields on pension funds – and said that the maximum return can be lowered.
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Pensions Management Institute names new CEO
UK - The Pensions Management Institute has named Roger Booth, a former global head of custody at Deutsche Bank, as chief executive.
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Agricole buys Intesa fund arm for €850m
ITALY – Italian banking group Banca Intesa and Crédit Agricole have agreed to a 12-year deal that sees their asset management arms merging into an entity which would be second in the Italian market.
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Germany’s Rürup wants civil service pension cuts
GERMANY - Professor Bert Rürup, the government adviser on pensions, has provoked the anger of German civil servants by urging the government to cut their pension benefits by one-sixth.