All IPE articles in May 2009 (Online) – Page 6
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News
BoI 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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News
Tax 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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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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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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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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News
Tax 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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News
C&W reports £32m accounting deficit
[16:55 CEST 21-05] UK – Cable & Wireless has reported an accounting deficit in its main UK defined benefit (DB) pension fund of £32m (€36.5m), compared to a surplus of £375m a year earlier.
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NewsIMA wants effective shareholder engagement
[16:55 CEST 21-05] UK – The number of fund managers making their voting records public increased from just two in 2003 to 24 five years later, so the UK's Investment Management Association (IMA) has revealed amid calls for more effective engagement.
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News
AP6 acquires bankrupt iron foundry
[17:00 CEST 21-05] SWEDEN – Sjätte AP-fonden (AP6) has confirmed it has acquired Arvika Gjuteri, an iron foundry, after the firm was declared bankrupt last week.
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News
Public sector reform to boost Romanian pensions
ROMANIA – Second pillar pensions funds in Romania could see a significant boost to membership in the coming years, according to pension experts, as the government is introducing reforms to cut its budget deficit which include reducing the non-contributory pensions for some public sector workers.
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News
Country-specific risk changes could lower funding - LCP
[17:00 CEST 22-05] GLOBAL – Companies with pension arrangements in several countries have been advised by Lane, Clark & Peacock to consider potential changes to funding levels and terms at local schemes based on the overall benefit it will bring to the company, and look at shifting from one country to another if it will lower the overall risk pressures.
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NewsIIGCC calls for more 'effective' carbon markets
[17:10 CEST 22-05] EUROPE – The Institutional Investors Group on Climate Change (IIGCC) has proposed a number of measures to boost the effectiveness of carbon markets and raise money from the private sector to fund climate change mitigation.
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NewsInvestment triggers 'could derisk pensions'
[17:10 CEST 22-05] GLOBAL – Applying some form of ‘trigger point’ at which investment returns could be collected might be a way of derisking pension schemes and removing the emotional draw some trustees attach to certain assets, suggests consulting firm Lane, Clark & Peacock.
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NewsBA's pension deficits hits £1.46bn
[17:15 CEST 22-05] UK – The aggregate accounting position of British Airways' (BA) two UK defined benefit (DB) schemes worsened by almost £1.2bn (€1.37bn) in the last financial year, to approximately £1.46bn.
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News
Ageing impact requires further fiscal 'squeeze'
[17:15 CEST 22-05] UK – Existing plans by the government for fiscal tightening of 6.3% of GDP, or £90bn, over the next few years, to return the current budget to balance by 2017/18, is not sufficient to counter the costs of an ageing population, PricewaterhouseCooper (PwC) has warned.
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NewsMunsters to leave APG
[11:45 CEST 26-05] NETHERLANDS - Roderick Munsters is leaving APG, the asset management arm of public employees' pension scheme ABP.
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NewsEU hedge fund 'passports' will take five years to deliver benefits
[14:00 CEST 26-05] EUROPE - Most hedge fund and private equity managers are unlikely to benefit from the passport provisions of the European Commission’s Draft Directive on Alternative Investment Fund Managers (AIFM) before 2014, even though they will have to meet its requirements as soon as it becomes law.
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NewsDonner to lead broad review of pension system
[14:30 CEST 26-05] NETHERLANDS - Social affairs’ minister Piet Hein Donner will commission a study into the investment policy and risk management of pension funds, following the severe impact of the credit crunch on the capital-funded second-pillar schemes.
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NewsDC assets see second month of growth
[14:45 CEST 26-05] UK – Defined contribution (DC) pension assets have grown for the second consecutive month to reach a combined total of £418m (€477bn), according to Aon Consulting,
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News
Investment ‘bleeding’ has stopped, claims EFAMA
EUROPE - Ucits collective investment schemes saw net inflows of €22bn for the opening three months of 2009, in marked contrast to net outflows recorded for the previous six quarters since the credit crisis began.
