Pension System – Page 312
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News
Older workers may opt for retirement delay
[16:45 CET 14-01] UK – Almost a fifth of workers aged between 45-54 expect to delay retirement by at least five years because of the current economic climate, according to Life Trust.
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NewsHBOS trustees drop Lloyds merger objection
[16:30 CET 08-01] UK – The trustees of the HBOS Final Salary Pension Scheme (FSPS) have announced today they will drop plans to delay the bank's takeover by rival Lloyds TSB until they would receive a funding guarantee for the scheme.
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News
HBOS trustees seek to delay Lloyds deal
UK – The trustees of the HBOS Final Salary Pension Scheme (FSPS) have prepared a report to present in court in a bid to delay the merger between Lloyds TSB and HBOS over concerns the deal will weaken the employer covenant to the defined benefit scheme.
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News
Waterford Wedgwood UK schemes head for PPF
UK/IRELAND – Defined benefit (DB) schemes belonging to the UK businesses of failed china firm Waterford Wedgwood are likely to end up in the Pension Protection Fund (PPF), although the future is more uncertain for members in Ireland where this is no equivalent 'lifeboat fund'.
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News
BT staff vote to accept pension changes
[15:15 CET 19-12] UK – Members of the BT Pension Scheme involved in consultative ballots with the trade unions Connect and the Communication Workers Union (CWU) have voted to accept the pension package unveiled by the company earlier this year.
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News
RSA to develop low cost pension option
[16:50 CET 18-12] UK – The Royal Society for the Encouragement of the Arts Manufacture and Commerce (RSA) has confirmed it intends to develop a business plan for a new low-cost pension fund which it believes will fill a gap in the market.
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News
UK life expectancy to 'level off' from 2021
[14:00 CET 18-12] UK – Life expectancy at the UK state pension age (SPA) will begin to "level off" between 2021 and 2051 for the average person, although members of the lower socio-economic groups, such as unskilled workers, could see life expectancy decline.
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News
Government to take on Royal Mail deficit
[13:00 CET 17-12] UK – The government has agreed with recommendations from an independent panel that it should take responsibility for Royal Mail's historic pension liabilities, as its deficit is currently estimated at £5.9bn (€6.6bn) and is making the firm "balance sheet insolvent".
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News
Germans claim to believe in long-term profit
[17:05 CET 08-12] GERMANY – Only 10% of Germans have changed their private pension provision on the back of the financial crisis, a survey by JPMorgan has found.
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News
German doctors fund raises retirement age
[15:50 CET 17-11] GERMANY – The doctors’ pension fund for Westfalen-Lippe (ÄVWL) has raised the retirement age to deal with a surprise increase in longevity.
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NewsGerman funds shun risk, abandon target returns – poll
[16:30 CET 13-11] GERMANY – Risk aversion has become much more of a priority for large German institutional investors, according to the latest poll by Union Investment.
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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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News
6% Finnish pensioners below poverty line
[15:45 CEST 16-09] FINLAND – Around 6% of pensioners in Finland rely solely on the national pension in retirement, even though a full pension provides less than half of the median income of 60% - putting them below the poverty line, the Ministry of Social Affairs and Health has revealed.
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News
1 in 9 unable to save for retirement
[16:15 CEST 30-06] UK – Approximately 60% of the UK population not currently saving for retirement claim they cannot afford to put money aside, a study by Scottish Widows has revealed.
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News
25% of CEE wealth to grow from pension funds – UniCredit
[16:10 CET 06-12] EUROPE – Over the next two years pension fund assets will increase household wealth in Central and Eastern Europe by €83bn which is one fourth of the total growth, banking group UniCredit finds.
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News
90% of German companies to launch Riester schemes
GERMANY – Nine out of ten companies in Germany are planning to establish a new occupational retirement fund under the Riester pensions reform, according to research just published by the German occupational pensions association, ABA.
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Features
ABP launches DC top-up
Europe’s largest pension fund, the e150bn ABP scheme for Dutch civil servants, is to introduce a defined contribution (DC) type, top-up arrangement for employees on June 1, taking advantage of a change in the Dutch tax regime that occurred at the start of this year. From January 1, the Dutch ...
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Features
Funding not always beneficial
Ageing populations present problems for social security schemes around the world. Low birth levels and increasing life expectancy will lead over time to increased numbers of elderly people and fewer people of working age to support them. Most social security schemes operate on the pay-as-you-go principle, whereby contributions made by ...
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Features
Hewlett Packard grasps the nettle of DC plans Europe-wide
Michel Henneaux explains the thinking behind the radical moves in the group’s pension scheme design
