All IPE articles in May 2009 (Online) – Page 5
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News
Belgian 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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Poland 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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Pressures 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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News
Upperman 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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NTMA 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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NPRF 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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News
Alliance 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.
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Norway 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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News
Increased 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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News
Overlay 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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News
M&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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Punter 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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News
Swedish 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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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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News
Dairy 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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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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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
Pensions 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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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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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%.
