All IPE articles in November 2009 (Online) – Page 5
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NewsESG is about belief, not proof - experts
[16:30 CET 12-11] GLOBAL – Environmental and social governance- based (ESG) investments are about belief in the concept rather than proof of returns, according to Robert Rubinstein, founder and CEO of TBLI Conference and Consulting.
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NewsAPG calls on EC to temporarily withdraw AIFM
[16:00 CET 12-11] EUROPE – APG has called on the European Commission to temporarily withdraw its proposals on the draft directive on Alternative Investment Fund Managers (AIFM) in light of the large number of expected amendments and to produce a "more balanced proposal by the summer".
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Finnish railways pension follows outsourcing track
[15:30 CET 12-11] FINLAND – The VR Pension Fund, which covers the employees of the Finnish State Railways, has announced it will transfer its statutory pension liabilities to Varma, the €28.3bn mutual pension insurance company, by the end of year.
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UK DB funding roundup: Inflation worries hit deficits
[15:00 CET 12-11] UK – The aggregate funding position of almost 7,400 defined benefit (DB) pension schemes improved by more than £50bn to a deficit of £97.6bn (€108.1bn) after updated valuation assumptions reduced liabilities by 7%, the Pension Protection Fund (PPF) has revealed.
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UK high court blocks attempt to undermine pensions lifeboat
[13:30 CET 12-11] UK – The UK high court has attacked a proposal by trustees of an underfunded scheme to buy out certain member benefits in full, ahead of entering the assessment period of the Pension Protection Fund (PPF), as a "blatant attempt" to undermine PPF legislation.
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PensionDanmark’s growth kept afloat by pension transfers
[13:00 CET 12-11] DENMARK - Despite dwindling employment levels in Denmark, PensionDanmark’s premium income rose 2% year-on-year in the first nine months of the 2009, thanks to a hefty increase in pension transfers moving to the firm.
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UK regulator warns of recovery plan reliance on markets
[16:30 CET 11-11] UK – Despite the recent economic conditions, 40% of defined benefit (DB) and hybrid recovery plans with a scheme valuation date between September 2007 and 2008 managed to avoid the Pensions Regulator's (TPR) funding triggers.
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Progress' member council loses indexation case
[16:30 CET 11-11] NETHERLANDS - The participants’ council of Unilever’s Dutch pension fund, Progress, has lost a legal case against the scheme concerning indexation.
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And then there were two: Logica pulls its PADA bid
[16:00 CET 11-11] UK – Logica UK, the technology and IT giant, has pulled out of the bidding process for a contract to run the UK’s personal accounts pensions administration system from 2012, leaving just two bidders left in the race.
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Wednesday people roundup
[14:00 CET 11-11] GLOBAL - Hymans Robertson, Credit Suisse, UBS, Hewitt Associates, Gatemore Capital Management, BNY Mellon, SWIP, Hermes
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Italy's COVIP unveils changes for larger pension plans
[13:00 CET 11-11] ITALY - COVIP, the Italian pension funds regulator, says larger collective open plan pensions funds will in future have to deliver an integrated supervisory board structure.
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Move to DC led by costs calculability – AllianzGI
[12:00 CET 11-11] EUROPE - Pensions analysts in key western European regions believe the move to defined contribution (DC) pension plans is largely being driven by the ability to better calculate costs, according to research.
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Dutch workers warm to part-time retirement
[11:00 CET 11-11] NETHERLANDS - Nearly six out of 10 workers in The Netherlands would consider taking a part-time pension in the final years of their working life, according to a study commissioned by pension provider Aegon.
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Pensions security overrides Swiss diversification – study
[16:50 CET 10-11] SWITZERLAND – Credit Suisse has conducted a study on the efficiency of Swiss Pensionskassen’s asset allocation, which indicates the strategies applied by schemes are “relatively efficient” but have room for improvement in terms of diversification.
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PPF to revise UK insolvency risk assessment
[16:40 CET 10-11] UK – The Pension Protection Fund (PPF) has proposed changes to the assessment of insolvency risk for the 2011/2012 levy, including the exclusion of registered charges caused by contingent assets when calculating failure scores.
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Irish rules on DB benefit cuts set 'too high'
[16:30 CET 10-11] IRELAND – The Pensions Board has been accused by the Irish Business and Employers Confederation (IBEC) of setting the bar “too high” for trustees and employers who are seeking to reduce accrued defined benefit (DB) entitlements to help stabilise scheme funding.
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Norway Global sees record return despite external losses
[16:15 CET 10-11] NORWAY – The Norwegian Government Pension Fund – Global posted its "best ever" quarterly return of 13.5% between June and September, even though externally-managed assets lost ground, and raised the value of the fund to NOK2.55trn (€304bn).
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IBM trustees seek legal clarity on UK DB closure
[16:00 CET 10-11] UK – Trustees of IBM's £4.36bn (€4.87bn) UK defined benefit (DB) pension schemes have told members they plan to seek legal approval for the proposed changes to the schemes before they amend the trust deed and rules.
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Schemes' investments based on active members - DNB study
[15:30 CET 10-11] NETHERLANDS - Dutch pension funds focus their strategic asset allocation on active participants rather than taking the interests of all participants into account in equal measure, according to research commissioned by pension regulator De Nederlandsche Bank.
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NAPF calls for working group to assist DWP regs
[17:00 CET 09-11] UK – The National Association of Pension Funds (NAPF) has initiated calls for a new joint working group, to consider the implementation issues around the second batch of regulations relating to the UK's 2012 pension reforms.
