All IPE articles in October 2008 (Online) – Page 8

News
TPR predicts market impact on recovery plans

2008-10-24T15:10:00Z

[16:05 CESt 24-10] UK – The Pensions Regulator (TPR) has confirmed the current economic difficulties could result in schemes submitting recovery plans for 2009 that include larger deficits, weaker employer covenants and longer recovery periods.
News
PGB cover ratio drops 25%

2008-10-24T15:25:00Z

[16:25 CEST 24-10] NETHERLANDS – The €8.8bn pension fund for the printing and publishing industry Pensioenfonds Grafische Bedrijven (PGB) has seen its cover ratio drop 25% since the beginning of this year.
News
Norfolk and Staffs start manager search

2008-10-24T15:30:00Z

[16:30 CEST 24-10] UK – Staffordshire and Norfolk County Councils have initiated searches for equity and bond managers for their local government pension schemes (LGPS).
News
Average UK employee is working longer

2008-10-24T15:45:00Z

[16:45 CEST 24-10] UK – The average age that employees over the age of 50 withdraw from the workforce and retire has increased to 64.6 years for men and 61.9 years for women, latest figures from the Office of National Statistics (ONS) has revealed.
News
Norway to extend emerging markets benchmark

2008-10-24T15:50:00Z

[16:50 CEST 24-10] NORWAY – The NOK1.99trn (€222bn) Norwegian Government Pension Fund – Global has confirmed it is considering further investments in India as part of its strategy to invest in emerging markets.
News
PADA halfway through first £3.3m capital

2008-10-24T16:00:00Z

[17:00 CEST 24-10] UK – The Personal Accounts Delivery Authority (PADA) has already spent more than half of the first capital injection of £3.3m (€4.07m) provided to the body by the government on staff costs and administration.
News
Varma loses €1.7bn in Q3

2008-10-24T16:05:00Z

[16:05 CEST 24-10] FINLAND – The €26.9bn Varma Mutual Insurance Company has reported a loss of around €1.7bn in the third quarter of 2008, following continued poor investment returns.
News
'Who owns Optas assets' will go to court

2008-10-24T16:05:00Z

[16:05 CEST 24-10] NETHERLANDS – The harbour workers and their employers have announced they will go to court to solve the row with Stichting Optas and Aegon about the workers’ pension, as earlier mediation has failed.
News
Pension schemes plea for global markets 'pause' (amended)

2008-10-27T15:45:00Z

[16:45 CET 27-10] DENMARK - Danish insurance companies are now calling for a coordinated global stock market ‘pause’ from the continuous fall in equity markets as well as a rescue package to support pension schemes worldwide.
News
DC members see pensions drop over a quarter

2008-10-27T15:45:00Z

[16:45 CET 27-10] UK – Employees investing for retirement through defined contribution pension arrangements have seen the value of their assets fall by £157bn (€194bn) or over 28% in the last 12 months, according to data from Aon Consulting.
News
Turkish pensions to see first of three new entrants

2008-10-27T15:55:00Z

[16:55 CET 27-10] TURKEY - Ray Sigorta, a pensions joint venture from Vienna Insurance Group and Dogan Holding in Turkey, is planning to enter the local private pension funds sector by June 2009, while two others firms are understood to looking at entering too.
News
ABP considers court action against Fortis

2008-10-27T16:00:00Z

[17:00 CET 27-10] NETHERLANDS – ABP, the €193bn Dutch pension fund, has confirmed it does “not rule out” taking legal steps against former Belgian-Dutch bancassurer Fortis concerning its recent financial status.
News
Finnish funds prepare for relaxed solvency rules

2008-10-27T16:10:00Z

[17:10 CET 27-10] FINLAND – Tela, The Finnish Pension Alliance, said Finnish pension funds are preparing for the arrival of new proposals to relax solvency regulations, which should be implemented in the coming weeks.
News
Swiss funds bet on Swiss francs

2008-10-27T16:15:00Z

[16:15 CET 27-10] SSWITZERLAND – Home bias is back in fashion as Swiss funds are turning towards investments in Swiss francs, especially domestic bonds – details of the Credit Suisse Pensionskassenindex reveal.
News
Swedish funds underwrite Swedbank rights issue

2008-10-27T16:15:00Z

[17:15 CET SWEDEN – The first and the second Swedish state pension funds, AP1 and AP2, alongside AMF Pension have underwritten the SEK12.4bn (€1.23bn) rights issue of Swedbank, the biggest bank in the Baltics.
News
PNO Media’s funding nears 105%

2008-10-27T16:25:00Z

[17:25 CET 27-10] NETHERLANDS - The €2.5bn pension fund PNO Media saw its cover ratio drop close to the critical level of 105% during the third quarter, while TNO’s position also moved close to the danger zone.
News
Wegener scheme in funding shortfall

2008-10-28T13:00:00Z

[14:00 CET 28-10] NETHERLANDS - The pension fund of media company Wegener (APW) has revealed its funding has dropped below 105% and is therefore now working on a short-term recovery plan.
News
Pension giants write to companies on ESG

2008-10-28T13:30:00Z

[14:30 CET 28-10] GLOBAL – An initiative created by pension giants APG, PGGM, CalPERS and the New Zealand Superannuation Fund (NZSF) has been unveiled on behalf of 52 pension funds and other institutional investors urgeingalmost 9000 companies to subscribe to the UN Global Compact.
News
Allianz harvests seed company

2008-10-28T14:00:00Z

[15:00 CET 28-10] GERMANY – A German SME specialising in seeds and plants has joined the Allianz retirement vehicle.
News
Essex tenders 10% to global equity

2008-10-28T15:45:00Z

[16:45 CET 28-10] UK – Essex County Council is searching for an asset manager to look after up to £300m (€375m) of its £3.1bn in pension fund assets via a global equity mandate.