More ESG news – Page 281
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Talking Point: The future of DB schemes
TALKING POINT – Research from the National Association of Pension Funds (NAPF) - suggesting 52%, or 1,000, open defined benefit (DB) schemes could close as a result of the impact of the economic crisis - has raised a debate on whether DB schemes can be saved.
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Finland not 'prepared' for ageing challenges
[15:45 CET 26-01] FINLAND – Finland is still not "adequately prepared" to meet the challenges of an ageing population despite recent pension reforms, according to the Economic Council of Finland.
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Complaints rise 43% in 2008
[15:45 CET 23-01] IRELAND – Preliminary figures suggest complaints to the Irish Pensions Ombudsman increased by 43% in 2008, primarily driven by issues over the whereabouts of contributions.
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CS, Nestlé give in to 'say on pay' pressure
[15:15 CET 23-01] SWITZERLAND – Also Swiss banking giant Credit Suisse and Vevey-based food company Nestlé have agreed to give Swiss pension fund shareholders a degree of say over executive remuneration.
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Pensions 'must be more responsible' or face legislation
[16:30 CET 19-01] UK – MPs, trade unions and members of the pensions investment industry have jointly backed a series of responsible investment proposals to get pension funds to "play their part" in creating a "sustainable financial system" or potentially face new regulation by 2010.
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TPR seeks support for employer compliance
[15:30 CET 16-01] UK – The Pensions Regulator (TPR) has launched the search for a provider to develop an employer compliance regime in relation to the new system of personal accounts.
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ABP/PGGM energy fund invests in Italian sun
[16:45 CET 15-01] NETHERALNDS – The €320m Ampère Equity Fund, a sustainable energy investment fund set up by Dutch pension funds ABP and PFZW, will hold a 49% stake in a new solar energy project in Italy.
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PADA targets admin in first tender
[15:45 CET 15-01] UK – The Personal Accounts Delivery Authority (PADA) has launched its procurement process for services, to establish the new system of personal accounts, with a search for a scheme administrator.
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POB to consult on quality rules for pension actuaries
[16:40 CET 14-01] UK – The Professional Oversight Board (POB), an operating body of the Financial Reporting Council (FRC), is to consult on possible improvements to the professional quality assurance requirements for actuaries, following a review of the monitoring and scrutiny of actuarial work.
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Xafinity to take on Hackney admin
[16:35 CET 14-01] UK – The London Borough of Hackney Council has appointed Xafinity Paymaster to manage its pension administration and pension payroll services.
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NewsNorway reviews Israel holdings over Gaza
[16:00 CET 07-01] NORWAY – Norway is reviewing whether the current Gaza conflict means its state pension fund is breaching ethical guidelines.
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Norwegian municipalities award pension mandates
NORWAY – Three Norwegian municipalities have appointed providers for their state occupational pension schemes following re-tendering exercises.
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9% of DB schemes avoided risk levy
[16:00 CET 23-12] UK – One in 11 of the schemes eligible for entry into the Pension Protection Fund (PPF) paid no risk-based levy in the 2007/08 year, according to figures from the third version of the Pensions Universe Risk Profile (PURPLE) Book.
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Nordic pension funds team up on ESG
[16:45 CET 22-12] SCANDINAVIA – Three pension companies from Finland, Norway and Sweden have joined together as the Nordic Engagement Cooperation (NEC) to coordinate engagement activities with companies on environmental, social and governance (ESG) issues.
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Siemens opens Pensionskasse
[15:10 CET 18-12] AUSTRIA – The Austrian branch of international group Siemens is planning to turn its Pensionskasse into a multi-employer fund.
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Pensions risk eyed with short-term view
[16:45 CET 17-12] GLOBAL – Pensions risk is viewed primarily as a short-term financial risk and changes to pensions strategies are being increasingly driven by corporate accounting, according to the latest study by Hewitt Associates.
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BankPension to collaborate with letpension
[16:20 CET 17-12] DENMARK – BankPension has entered into a "strategic co-operation" with the individual pension company letpension to establish a joint management company.
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TPR outlines protection against new powers
[16:00 CET 17-12] UK – The Pensions Regulator (TPR) has initiated a consultation on the code of practice for applying the "material detriment test" when deciding whether to issue a contribution notice.
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Madoff fraud hits pension funds
[17:05 CET 15-12] GLOBAL – As the list of investors hit by Bernard Madoff’s scam grows, it has emerged pension funds have also been hit by the alleged $50bn Ponzi scheme.
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Pensions market pushes for private equity self-regs
[15:30 CET 12-12] NETHERLANDS - Mn Services, the €65m service provider for the large metal pension schemes PME and PMT, has initiated a drive for increased self-regulation by private equity firms and hedge funds and delivered key recommendations through a consultation with the industry.
