All IPE articles in October 2008 (Online) – Page 7
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NewsYounger Danes could face pensions reduction
DENMARK – Danish pension companies could be forced to give younger customers lower benefit payments from their guaranteed pensions compared with those received by the current generation of pensioners, if the current financial crisis continues.
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NewsAPG Group signs cross-border deal with PensPlan
[16:55 CEST 13-10] NETHERLANDS - APG Group has formalised a deal with the €1.6bn Italian pension administrator PensPlan which will initially see APG manage €100m in assets for the Italian provider.
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NewsEnergy watchdog seeks multi-employer fund membership
[17:05 CEST 10-10] AUSTRIA – E-Control, a Vienna-based independent authority related to the energy markets, is looking to join a multi-employer pension fund for the local government staff.
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NewsHFC 'confident' about Dutch VAT exemption
[17:00 CEST 10-10] NETHERLANDS – Akkie Lansberg, the managing director of the Dutch Holland Financial Centre (HFC), said today she is “confident” the value-added tax (VAT) on asset management services sought by pension funds will be abolished in the near future.
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NewsPPF to include investment risk in new levy
[16:55 CEST 10-10] UK - The Pension Protection Fund (PPF) has confirmed the investment strategy of pension funds will be a factor in the new formula for the risk-based part of the PPF levy, ahead of the release of the detailed proposals later this month.
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NewsGerman investors cut pension savings
[16:50 CEST 10-10] GERMANY - German investors are wary of putting money aside for their retirement in the current economic climate, a new survey suggests.
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NewsATP pumps money into Danish banks
[16:45 CEST 10-10] DENMARK – ATP, the largest pension scheme in Denmark, is lending billions of Danish kroner to Danish bank– described as deposits because of a government guarantee they carry - in a bid to help shore them up during the financial crisis.
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NewsASB to reconsider risk-free discount-rate
[16:00 CEST 10-10] UK - The Accounting Standards Board (ASB) has admitted it will have to publish another paper on the use of a risk-free discount rate to "reconsider" and take into account the mainly negative responses to its first consultation.
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NewsDutch 'API lite' extended to cover some DB (amended)
[13:50 CEST 10-10] NETHERLANDS – The new premium pension institution (PPI), which is being created by the Dutch government as part of a new international vehicle to tap IORP guidelines, is being extended to cover all contribution-based scheme and may be applicable to some overseas defined benefit (DB) arrangements.
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NewsPADA reveals more on personal accounts future
[13:25 CEST 10-10] UK - The Personal Accounts Delivery Authority (PADA) will launch a consultation on investment strategy in November with an ethical investment event and has also revealed further details about e-business future of its service.
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NewsGMB targets Ofgem over pension proposals
[17:10 CEST 09-10] UK – Trade unions are raising concerns over possible pension cuts for energy workers directly with Ofgem, following an earlier call for the abolition of the competition authority.
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NewsCredit interesting again, managers agree
[17:05 CEST 09-10] GLOBAL – With priced-in defaults being at a record high the time has come to invest in credit products, fixed income managers has suggested.
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NewsIrvine launches PiRho consulting
[16:55 CEST 09-10] UK – Phil Irvine, a former director of advisory services at research and advisory firm Liability Solutions, has launched a new investment consulting business together with former colleague Nicola Ralston.
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NewsDutch pension assets down a fifth since Q2
[16:30 CEST 09-10] NETHERLANDS – The Dutch central bank and pension fund regulator De Nederlandse Bank (DNB) has revealed Dutch pension funds’ active capital has dropped by 20% to €600bn in less than three months.
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NewsLords confirm SRI can be applied in UK pensions
[16:00 CEST 09-10] UK – Members from the UK’s upper parliamentary house have clarified pension fund trustees are legally allowed to consider responsible investment in any of its decisions concerning assets held by the fund.
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NewsFinland to create pensions working group
[15:15 CEST 09-10] FINLAND – The Finnish minister for social affairs and health has confirmed the government intends to set up a working group to study the regulation and supervision of investments, including pension funds.
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NewsIlmarinen to increase its alternatives focus
[15:00 CEST 09-10] FINLAND – Ilmarinen Mutual, Finland’s second-largest pension provider, is planning to increasing its private equity and property holdings in the coming years as well as diversify its equity holdings, IPE has learned.
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NewsJeannie Drake is acting chair of PADA
[11:20 CEST 09-10] UK - James Purnell, secretary of state for work and pensions, has confirmed Jeannie Drake will temporarily replace Paul Myners as chair of the Personal Accounts Delivery Authority (PADA).
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NewsSolvency Rapporteur suggests 'clean sheet' on pensions
[17:10 CEST 08-10] EUROPE – The European Parliament member tasked with delivering a consensus on the Solvency II directive has called on the European Commission to start afresh in its search for a pensions solvency regulatory solution which recognises pensions provision has to be suitably funded.
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NewsIcelandic pension funds refuse to repatriate assets
[15:45 CEST 08-10] ICELAND – Iceland’s pension funds will not transfer any of their foreign securities back to Iceland as the deteriorating economy is dragging down pension fund assets, IPE has learnt.
