All IPE articles in May 2009 (Online) – Page 4
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NewsNPRF could not 'justify' bank recapitalisation
[17:05 CEST 18-05] IRELAND – The National Pension Reserve Fund (NPRF) Commission has told the Ministry of Finance it could not "justify" investing €7bn to recapitalise two banks in relation to its investment remit, which resulted in legislation enabling the government to direct the Commission to make the investment.
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NewsNTMA warned not to adopt hybrid scheme over levy
[16:55 CEST 18-05] IRELAND – The Committee for Public Accounts has criticised the potential introduction of a hybrid pension regime for Ireland's National Treasury Management Agency (NTMA)employees, as the scheme is a defined contribution (DC) scheme but will still require members to pay the DB-related public sector pension levy.
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NewsUpperman to head retail scheme
[16:30 CEST 18-05] NETHERLANDS - The €6bn pension fund for the retail sector has appointed Rene Upperman as director of its new governance bureau.
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NewsPressures to force active manager reforms - WW
[16:20 CEST 18-05] GLOBAL – Increasing pressure on profitability and the drive by investors for improved fee terms will force active management fund houses to rethink their structures, fund ranges and company sizes to stay afloat, claims Watson Wyatt.
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NewsPoland contributes cash as pensions rise
POLAND – Polish pension funds rose in value by 5.7% last month, following improved performance for the second consecutive month in a row along with fresh cash contributions from the government – the first to be made since 2003.
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NewsBelgian pensions hit by IAS19 review
BELGIUM – Belgian pension plan sponsors could face a double-whammy of problems as a result of recent decisions made by the International Accounting Standards Board, a pensions consultant has warned.
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NewsCroydon pension fund targets GTAA
[17:25 CEST 15-05] UK – Croydon Council is seeking a supplier for the combined roles of providing Tactical Asset Allocation (TAA) advice to its pension fund while also managing a £25m (€28m) Global Tactical Asset Allocation (GTAA) mandate.
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NewsIrish tourism authority seeks pensions admin
[17:20 CEST 15-05] IRELAND - Fáilte Ireland, the National Tourism Development Authority, is tendering a contract for consultancy and administration services to its three pension funds.
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NewsFujitsu mulls closing UK DB scheme to future accrual
[17:20 CEST 15-05] UK – Fujitsu Services UK has confirmed it is initiating a three-month consultation with staff and trade unions over the closure of its defined benefit (DB) scheme to future accrual.
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NewsBuy-in security 'helps credibility'
[17:15 CEST 15-05] UK – Over 90% of trustees and industry professionals believe insurance companies do not always need to offer additional security in pension-buy-in transactions, although it improves their credibility if they do so, Hewitt Associates has revealed.
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NewsEast Sussex bank plan is 'madness'
[17:15 CEST 15-05] UK – Proposals by East Sussex County Council to use money from its local government pension scheme (LGPS) to establish a bank to help local businesses have been criticised as "utter madness" by the GMB.
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NewsReforms urged on sterling corporate bond market
[17:10 CEST 15-05] UK – The Investment Management Association has warned appropriate reforms are needed in the UK corporate bond market, to prevent the sector from becoming a “backwater” and in turn presenting both a lack of funding and higher costs for all investors concerned.
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NewsNAPF backs UK short-selling strategy
[16:40 CEST 15-05] UK – The National Association of Pension Funds (NAPF) has urged the UK’s Financial Services Authority to steer clear of a blanket ban on short-selling of equities, arguing certain investments strategies “depend on the ability to go short”.
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NewsCroatian funds back in positive territory
CROATIA – Croatia’s four pension fund companies collectively lost 0.9% on investments in the first quarter, but data reveals they are back in positive territory now.
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NewsEC steps up action against Poland
[17:00 CEST 14-05] EUROPE – The European Commission has moved to stage two in its pursuit of changes to Polish taxation policy, for what officials claim is discrimination against foreign pension and investment bodies.
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NewsPensions Board grants DB schemes further reprieve
[16:40 CEST 14-05] IRELAND – The Pensions Board has further extended the deadline by which defined benefit (DB) schemes must file funding proposals for approval, following the introduction of new measures for DB schemes announced by the government last month.
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NewsSwiss funds see long-term returns erased
[16:25 CEST 14-05] SWITZERLAND – Swiss Pensionskassen have now returned virtually nothing from their investments in the last eight years, Swisscanto found in its latest research.
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NewsProvisum kept cover ratio afloat
[16:15 CEST 14-05] NETHERLANDS - Provisum, the €900m pension fund of retailer C&A, managed to sustain a cover ratio of over 120% by the end of last year, thanks mainly to its comfortable starting position.
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NewsRoyal Mail pension deficit nears £7bn
[16:00 CEST 14-05] UK – Royal Mail Group has revealed the deficit in its £20bn (€22.3bn) pension scheme has more than doubled over the year to £6.77bn at the end of March 2009.
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NewsBT told to delay actuarial valuation results
[15:45 CEST 14-05] UK – The Pensions Regulator (TPR) has asked BT and trustees of the £29.3bn (€32.6bn) BT Pension Scheme (BTPS) not to finalise or disclose the results of the latest triennial valuation until TPR has completed discussions regarding the basis of the valuation.
