All IPE articles in May 2009 (Online) – Page 5
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NewsOmbudsman attacks DC pensions marketing
[15:30 CEST 14-05] IRELAND - Paul Kenny, the Pensions Ombudsman, has hit out at defined contribution pension providers and trustees for what he describes as misleading communications around the marketing of DC schemes’ funds and terms and insufficient analysis of charges.
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NewsPension funds act on negative swap spread
[13:00 CEST 14-05] GLOBAL - Pension funds have been lining up to take profits from the interest-rate swaps they have put in place for liability-driven investing (LDI), according to their fixed income managers and advisers.
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News1 in 4 Danes to work past retirement
[17:30 CEST 13-05] DENMARK – Almost 50% of Danish workers intend to take early retirement before the age of 65, while just over a quarter plan to continue working past the normal retirement age, according to Forsikring & Pension, the Danish Insurance Association (DIA).
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NewsDownturn unlikely to drive Ombudsman complaints
[17:25 CEST 13-05] UK – The Pension Ombudsman has predicted the economic downturn will not have a “direct or obvious effect” on its workload over the next three years, although the switch from defined benefit (DB) to defined contribution (DC) schemes could lead to more investment-related complaints.
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NewsATP heads up personal accounts admin shortlist
[17:20 CEST 13-05] UK – ATP is among a shortlist of four potential suppliers of scheme administration services for the new system of personal accounts.
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NewsLife expectancy ‘rising faster than forecast’
[17:15 CEST 13-05] NETHERLANDS - The life expectancy of the Dutch population has increased much more than initially forecast, the Actuarial Society (AG) has suggested.
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NewsSlovak funds grow 0.5%
SLOVAKIA – The six pension fund companies managing mandatory funds for Slovakia’s second pillar posted a positive return for the first quarter of 2009.
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NewsKPN to step up risk after 14.5% loss
[16:20 CEST 13-05] NETHERLANDS - The €3.6bn pension fund of telecoms provider KPN limited its loss in 2008 to 14.5% as a result of a 70%-hedge on its interest rate risk, but officials have plans to increase its alpha risk this year.
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NewsConsultants predict potential longevity market of £15bn (updated)
[16:00 CEST 13-05] UK – Babcock International, the engineering firm, has in principle secured a deal to hedge some of its pensions longevity risk through the market’s first longevity swap, though consultants say the arena could quickly grow to be cover a potential £15bn (€17bn) in pension assets this year.
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NewsWednesday people roundup
[15:45 CEST 13-05] GLOBAL – People roundup: Bridge Pointe, Equitable Life, Ircantec, Aviva Investors, Citi Global Transaction Services, SEB, American Century Investments
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NewsIBOA defers AIB action ahead of new talks
[17:00 CEST 12-05] IRELAND – The Irish Bank Officials' Association (IBOA) has agreed to defer using proxy votes at the annual general meeting (AGM) of AIB, following proposals put forward by the Labour Relations Commission (LRC) to end a dispute on pay, pensions and other issues.
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NewsUK pensioners paid £160 a week from workplace schemes
[16:55 CEST 12-05] UK – Almost three-fifths of UK pensioners received an average of £160 (€178) a week in 2007-08 from occupational pensions in retirement , according to figures from the Department for Work and Pensions (DWP).
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NewsImproved equity returns cut DB deficit by £50bn
[16:50 CEST 12-05] UK – The aggregate funding position of around 7,400 defined benefit (DB) pension schemes improved by more than £50bn in April, to a deficit of £188.5bn (€211bn) by the end of the month.
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NewsSigns of recovery on the horizon, for some?
[16:45 CEST 12-05] AUSTRIA – Improved investment returns in April have helped Austrian pensionskassen to turn their performance into positive figures for the first time this year.
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NewsVopak swaps Mn Services for BlackRock
[16:15 CEST 12-05] NETHERLANDS - After a lengthy evaluation process, the pension scheme of Vopak, storage provider for bulk liquids, has given a fiduciary mandate worth €500m to Black Rock.
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NewsDNB 'very critical' on recovery plans – actuaries (updated)
[16:00 CEST 12-05] NETHERLANDS - Actuarial firms have claimed the pensions regulator, De Nederlandsche Bank, is sticking too rigidly to its checklist when judging the mandatory recovery plans of pension funds with a funding shortfall.
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NewsVB begins drive to restore trust
[15:45 CEST 12-05] NETHERLANDS - VB, the association of industry-wide pension funds yesterday told delegates at its annual member meeting there is a pressing need to restore confidence in the Dutch pensions system.
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NewsABP comes close to 100% again
[12:00 CEST 12-05] NETHERLANDS - The funding ratio of ABP, the largest Dutch pension fund for civil servants, is hovering in the region of 95% to 100%, Harry Borghouts, interim president, said yesterday at the presentation of ABP’s annual report.
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NewsGerman investors keep a level pensions head
[17:30 CEST 11-05] GERMANY – Germans have continued to save for their retirement during the crisis and faith in the state pension has only increased slightly, suggests a regular study conducted by JP Morgan Asset Management.
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NewsPPF diversifies investment portfolio
[17:25 CEST 11-05] UK – The Pension Protection Fund (PPF) is diversifying its investment strategy to include three new portfolios including global tactical asset allocation (GTAA).
