All IPE articles in November 2008 (Online) – Page 8
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News
John Lewis gives Ocado to its pension
[17:00 CET 07-11] UK – The John Lewis Partnership has agreed to transfer its 29% stake in the online supermarket service Ocado, valued at £128m (€158m), to the John Lewis Partnership Pension Fund.
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IMF's rescue plan demands Hungarian pension cuts
[16:55 CET 07-11] HUNGARY – The executive board of the International Monetary Fund (IMF) has agreed to grant Hungary a €12.3bn stand-by arrangement, though officials have demanded the country make “substantial fiscal adjustments” and revise its pension system.
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Spanish pension funds sink 9%
[16:45 CET 07-11] SPAIN – Spanish pension funds have fallen in value by an average of 9.2% in the first 10 months of 2008 following poor performance from euro-denominated equities, Mercer Consulting has claimed.
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Philips scheme returns 0.4% in third quarter
[16:40 CET 07-11] NETHERLANDS - The pension fund of electronics giant Philips returned 0.4% on its investments in the third quarter thanks to its ‘risk-aware’ investment policy, officials have claimed.
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AnalysisNews analysis: Swiss schemes exposed to higher risks
SWITZERLAND - Concentration risk in Switzerland’s SPI index, the dominant domestic equity benchmark for Pensionskassen, has increased significantly over the last year as financial turmoil has wreaked havoc on two of the country’s largest listed companies.
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IMF warns of need for Finnish pension reforms
[17:15 CET 06-11] FINLAND – The International Monetary Fund (IMF) has warned Finland it needs to improve pension fund management if it is to cope with a rapidly ageing population.
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Pension self-certifying may increase admin burden
[17:10 CET 06-11] UK – Pensions experts are warning the drafting of a government amendment to the Pensions Bill 2008 - allowing employers to 'self-certify' their existing pension scheme meets a "quality" standard - will increase the administrative burden on employers.
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UK pension funds move from equity into alternatives
[17:00 CET 06-11] UK – Half of UK pension funds plan to decrease their allocation to equity in favour of increasing investments in alternative assets, though transparency remains a driver for allocating to the class, a new study has found.
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PensionDanmark loses 6.8% in nine months
[16:55 CET 06-11] DENMARK – PensionDanmark has reported a negative return on investments of -6.8% for the first nine months of 2008, as "unrest" in financial markets impacted negatively on the pension fund.
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News
Danish pension members are losing savings
[16:45 CET 06-11] DENMARK - Every pension customer in Denmark with a traditional retirement savings account is understood to be losing up to 15% of their savings as a result of the 'shield rate' many insurance companies have now imposed on the back of the financial crisis.
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News
Aegon sees Dutch and UK pension losses in Q3
[16:30 CET 06-11] NETHERLANDS – Aegon, the Netherlands-headquartered insurer and asset manager, has today announced it has seen a drop in its overall revenue generating investments at the end of September and reported a net loss for the third quarter.
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News
75% of Germans consider occupational pensions safe
[16:25 CET 06-11] GERMANY – Occupational pensions are the second-safest way to save for retirement, according to a new poll, yet a separate study shows more employers are switching to hybrid DB/DC schemes.
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Dutch investors raise climate change activism
[16:10 CET 06-11] NETHERLANDS - Larger Dutch institutional investors are increasingly using their voting clout at shareholders’ meetings to fight climate change, according to environmental organisation Milieudefensie.
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Make second pillar mandatory – union head
[16:00 CET 05-11] GERMANY – The head of one of the largest German unions, IG Metall, Werner Lohre, thinks only a mandatory system can get second pillar participation to the necessary level.
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Irish funds lose a third in 12 months
[16:00 CET 05-11] IRELAND – Irish pension managed funds returned an average of -9.2% in October, bringing the overall negative return for the last 12 months to -33.4%, Rubicon Investment Consulting has revealed.
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News
BVK fund's cover ratio falls further
[15:45 CET 05-11] SWITZERLAND – The CHF21.7bn (€13.4bn) Swiss BVK pension fund has seen a further drop in its solvency levels, pushing its planned privatisation even further away.
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UNJSPF drops $4.5bn in Q3
[15:30 CET 05-11] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) saw its assets fall 11.2%, or $4.5bn (€3.5bn), in the third quarter of 2008.
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PPF seeks trustee managers for FAS role
[15:15 CET 05-11] UK – The Pension Protection Fund (PPF) is seeking trustee relationship managers to assist the trustees of schemes entering the Financial Assistance Scheme (FAS).
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News
Kaupthing sells Swedish pension consulting in MBO
[15:00 CET 05-11] SWEDEN - Kaupthing Bank Sverige AB, the Swedish arm of the troubled Icelandic bank, has sold Kaupthing Pension Consulting (KPC) AB in a management buyout.
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Wednesday people roundup
[14:45 CET 05-11] GLOBAL – People roundup: Sampo, Mn Services, Insight Investments, Neptune, SLI, BNY Mellon Asset Management, BlackRock, Aon, MCM, Fortis, Schroders, IOPS, Punter Southall.
