More ESG news – Page 288
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News
UK pension funds co-lead in Lehman Bros action
[16:30 CEST 12-08] UK – Lothian Pension Fund and the Northern Ireland Local Government Officer Superannuation Committee (NILGOSC) have been appointed co-lead plaintiffs in a class action against Lehman Brothers concerning losses relating to the sub-prime crisis.
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Danish schemes given until 2009 for CSR compliance
[16:10 CEST 12-08] DENMARK – Danish pension funds will have until the end of 2009 to comply with new legislation requiring the inclusion of corporate and social responsibility (CSR) activity in the management's review of the annual report.
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'Too early for Fortis EGM', say funds (Update)
[16:40 CEST 11-08] NETHERLANDS – A number of large Dutch pension fund and pension fund providers have stamped a unanimous 'no' against shareholder organisations VEB’s call for an extraordinary general meeting (EGM) of Fortis’ shareholders.
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ABP calls for governance change at Fortis
[16:50 CEST 05-08] NETHERLANDS – Belgian Dutch financials firm Fortis needs to drastically change its governance structure, says major Dutch pension fund ABP.
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Trustees classed as money laundering 'low risk'
[15:50 CEST 05-08] UK – Professional trustees may avoid having to register as a Trust or Company Service Provider under new money laundering regulations, as occupational pension schemes have been classified as “low risk”.
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NewsHackney seeks admin provider to replace LPFA
[15:45 CEST 01-08] UK – The London Borough of Hackney is seeking a new provider of pension administration and pension payroll services ahead of the expiry of its current contract with the London Pension Fund Authority (LPFA) next year.
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NU nets half its missing trawlermen members
[14:15 CEST 30-07] UK – UK life insurance firm Norwich Union is still attempting to track down over 6,000 people who were thought to be members of the UK trawlermen defined benefit (DB) pension schemes, after it was found some members had never received payouts.
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Entering IPE Awards 'boosted member relations'
[16:20 CEST 28-07] EUROPE – Officials at a Swedish pension fund have told pension fund executive the winning of an IPE European Pension Fund Award added “real value” to their relations with members, so entries are now being invited for this year’s event.
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LAPFF issues deadline for M&S governance
[16:50 CEST 25-07] UK – The Local Authority Pension Fund Forum (LAPFF) has confirmed plans to file a resolution calling for an independent chair of Marks & Spencer (M&S) if the retailer fails to split the roles of chairman and chief executive by 2009.
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Saving should be the new investing - BlackRock
[17:00 CEST 24-07] EUROPE – A study into the attitudes of pension scheme members has revealed many individuals are put off by messages suggesting pensions are an investment, and are more amenable to the concept if described as ‘savings’.
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Two-thirds outsource admin despite TPR fears
[16:30 CEST 24-07] UK – Over two-thirds of employers with defined benefit (DB) schemes have outsourced their pensions administration to third-party providers, according to Aon Consulting, even as the UK regulator raised concerns about the level of skill among administrators.
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Poor record-keeping could add 5% to buyout cost
[17:05 CEST 23-07] UK – The Pension Regulator (TPR) is targeting poor record keeping with a consultation on new proposals for "good practice" guidelines for trustees and administrators, as evidence suggests poor practice significantly adds to the scheme's costs.
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Shareholders called to step up chairmanship scrutiny
[16:25 CEST 23-07] UK/GLOBAL – Companies must expect more scrutiny and pressure from shareholders managing pension fund assets, according to officials at UK investment house Legal & General Investment Management, to ensure they act responsibly and efficiently in the interests of shareholders, staff and customers during the current economic climate.
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Demands for SWF transparency 'will fail'
[15:25 CEST 23-07] GLOBAL – Growing demands for transparency by sovereign wealth funds (SWFs) from recipient countries will fail unless more diplomacy is used, asset management giant State Street has claimed.
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Bulk of UK schemes meet trustee requirement
[15:45 CEST 21-07] UK – Almost one-quarter of pension schemes have gone beyond the minimum legal requirement for the appointment of member-nominated trustees (MNTs) and have at least 50% of the board representing members, the Trades Union Congress (TUC) has claimed.
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Trustees concerned over transfer incentives - TPR
[16:21 CEST 18-07] UK – Trustees were concerned about potential conflicts of interest in a third of cases where schemes have offered members an inducement or incentive to transfer out of the scheme or accept reduced benefits, The Pensions Regulator (TPR) has revealed.
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Ireland to review ethical investments
[13:57 CEST 18-07] IRELAND – The Irish government will examine ethical investment following increased calls for independent scrutiny of the National Pension Reserve Fund's (NPRF) holdings in companies operating in Zimbabwe.
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NewsDáil to grill NPRF over Zimbabwe
[14:21 CEST 14-07] IRELAND – The National Pension Reserve Fund (NPRF) has been called to give evidence to the Irish Parliament's joint committee on foreign affairs over Zimbabwe.
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NPRF to raise concerns over Zimbabwe investments
[16:10 CEST 11-07] IRELAND – The Commission of the National Pensions Reserve Fund (NPRF) has refuted claims that the fund invests around 3% of its assets in Zimbabwe-based companies.
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Hoogovens fund to strengthen SRI criteria
[15:29 CEST 11-07] NETHERLANDS – Stichting Pensioenfonds Hoogovens, the €5.19bn scheme of Corus Netherlands, is set to implement a new socially responsible investment (SRI) policy for its investments.
