All IPE articles in May 2009 (Online) – Page 3
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NewsTax relief cut seen as 'thin end of wedge'(updated)
[16:50 CEST 21-05] UK – Proposals to reduce tax relief for high earners could be the "thin end of the wedge" leading to later changes affecting lower income workers' pension arrangements, members of the House of Lords have been told.
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NewsNorway-Global to get new CIO
[16:45 CEST 21-05] NORWAY – The giant Norwegian sovereign pension fund could soon have a new CIO as Norges Bank Investment Management is searching for a new chief investment officer, chief risk officer and chief treasurer.
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NewsTapping engaged members 'could improve lifecycling'
[16:15 CEST 21-05] GLOBAL – Improvements could be made to lifecycle strategies within defined contribution pensions if trustees were to base their default designs more on the needs of “guided-selector” members who might already engage in decision-making, suggests research conducted by consulting firm Watson Wyatt.
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NewsUK buyout market halved in Q1
[17:00 CEST 20-05] UK – The UK defined benefit (DB) buyout market reduced by 50% in the first quarter of 2009, as the total value of agreed transactions totalled less than £900m (€1.02bn).
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NewsTax relief cut may 'destabilise' pensions
[16:55 CEST 20-05] UK – MPs will today be told the UK government's decision to reduce tax relief for higher earners from 40% to 20% would "seriously damage public trust and confidence" in pensions and might even "destabilise" workplace pensions.
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NewsBoI deficit almost doubles to €1.5bn
[16:55 CEST 20-05] IRELAND – The Bank of Ireland's defined benefit (DB) pension deficit has almost doubled over the last year to €1.48bn.
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NewsNorway-Global dropped 4.8% in Q1
[16:45 CEST 20-05] NORWAY – The Government Pension Fund – Global underperformed the benchmark by 0.35 percentage points in the first three months of 2009 with a quarterly return of -4.81%.
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NewsSmall cap equities sought by Swiss
[16:40 CEST 20-05] GLOBAL – A Swiss institutional investor to looking $100-200m (€73-146m) in global developed market small cap equities and is searching for an appropriate manager, using IPE-Quest.
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NewsPensions insurance might work long-term - advisers
[16:30 CEST 20-05] GLOBAL – Some form of insurance or ‘lock-in protection’ might be a solution to the risk of investing in defined contributions pensions, but the industry must in the short-term do much more to inform members about the risks they face, say consultants.
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NewsWednesday people roundup
[15:45 CEST 20-05] GLOBAL – People roundup: Aviva Investors, BNY Mellon, IIFA, Nordea, Skandia Investment Group, Prupim, MPL, Laven/Lussan
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News'Japan scenario' could seriously affect pensions - DNB
[15:15 CEST 20-05] NETHERLANDS - Future pension benefits for Dutch workers could be affected if interest rates stay low and markets do not recover, pensions regulator De Nederlandsche Bank has claimed.
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NewsDairy Crest schemes slip into deficit
[17:05 CEST 19-05] UK/IRELAND – Dairy Crest has reported a £171m (€194m) decline in the combined value of its two defined benefit (DB) schemes, resulting in an aggregate deficit of £63.3m.
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NewsDiversified growth to play key role in DC default
[17:00 CEST 19-05] GLOBAL – Consulting firm Lane, Clark & Peacock is advising pensions clients to adopt a new lifestyling default strategy for defined contribution (DC) plans which for the bulk of the investment period is equally split between equities and diversified growth investments.
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NewsSwedish Ethical council reports three successes
[17:00 CEST 19-05] SWEDEN – Three companies on the dialogue list of the Ethical Council for the first to fourth AP funds have now achieved the goals set by the council in relation to corruption and environmental issues.
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NewsPunter Southall wins FAS caseworker role
[17:00 CEST 19-05] UK – The Pension Protection Fund (PPF) has appointed Punter Southall as an external caseworker to help and support trustees of pension schemes entering the Financial Assistance Scheme (FAS).
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NewsM&S reports £152.2m IAS19 deficit
[16:55 CEST 19-05] UK – Marks & Spencer has revealed the value of its defined benefit (DB) pension scheme dropped by over £1bn to £3.98bn (€4.52bn) over the last year.
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NewsOverlay touted as swaps alternative
[16:00 CEST 19-05] EUROPE – Pimco, the asset manager, has suggested pension funds who were considering applying an interest rate swap to their portfolios should instead look to a gilts overlay or equity futures to gain better returns.
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NewsIncreased interest hedge cushions TNT’s loss
[15:15 CEST 19-05] NETHERLANDS - The €3.8bn pension fund of postal company TNT saw its losses considerably limited last year, officials claim, as the interest hedge on liabilities was increased from 53% to 75%.
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NewsNorway global heads towards NOK 2.2trn
[17:10 CEST 18-05] NORWAY – The Government Pension Fund – Global has increased in value for the second consecutive month to reach just under NOK 2.2trn (€250bn) at the end of April 2009.
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NewsAlliance Boots pension surplus slips to £188m
[17:10 CEST 18-05] UK – Alliance Boots has revealed a net retirement benefit surplus in its defined benefit schemes of £188m (€213m) at the end of March 2009, compared with £297m a year earlier.
