Returns – Page 142
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NewsUK roundup: Towers Watson, NEST, Balfour Beatty, Daily Mail and General Trust
UK – Towers Watson has warned that large UK companies are likely to shun the National Employment Savings Trust (NEST) in favour of their own pension funds, as they will offer better value over the new defined contribution scheme.
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NewsParticipants in Smit pension scheme drop legal action
NETHERLANDS – The €200m pension fund of maritime service provider Smit Internationale will no longer need to cut benefits by more than 13% after its participants accepted a €30m additional contribution offered by Boskalis, the company's new owner.
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NewsLongevity uncertainty may force Dutch giant ABP to increase contributions
NETHERLANDS – The €231bn Dutch civil service scheme ABP may need to raise its contributions to more than 21.4% next year following new longevity predictions.
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EDHEC outlines ideal investment strategy for sovereign wealth funds
GLOBAL – The investment strategy of a sovereign wealth fund (SWF) should consist of three basic building blocks, including liability hedging and an endowment-hedging portfolio, according to research by the EDHEC Risk-Institute.
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NewsSwiss city to plug pension hole by New Year
SWITZERLAND – The regional government of the Swiss city of Basel has committed to plugging the hole in its pension scheme by the end of this year.
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NewsUK mortality revision to increase liabilities by £5bn, warns Aon Hewitt
UK – Revised mortality tables will see pension fund liabilities rise by £5bn across the industry, Aon Hewitt has warned.
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NewsContributions to German Pensionsfonds rebound, treble in 2009 - Towers Watson
GERMANY – After a major drop in contributions to Pensionsfonds in 2008, Germany's newest occupational retirement scheme is back in favour with companies –with Towers Watson predicting growth to continue.
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NewsSwedish roundup: Folksam, Svenska Lärarfonder, Skandia, Finansinspektionen, KP Pension, Handelsbanke
SWEDEN – Pension and insurance provider Folksam is to buy the insurance portfolio of Svenska Lärarfonder, the Swedish teachers’ fund manager, from rival pension and insurance company Skandia.
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NewsBoskalis offers Smit pension scheme additional €30m
NETHERLANDS – Dredging company Boskalis, the new owner of Dutch maritime service provider Smit Internationale, has offered the ailing Smit pension scheme €30m to stave off a 13.2% benefits cut.
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NewsPFA becomes largest pension provider in Denmark as contributions rise to 23%
DENMARK – PFA Pension has overtaken Danica Pension to become Denmark's biggest pension provider, third quarter results have revealed.
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NewsDAX pension returns eclipsed by steeper liability increase, says Towers Watson
GERMANY – German companies in the DAX stock exchange index reported an average 2.6% return on their pension plans for the third quarter 2010 but this was offset by a 4.4% rise in liabilities, according to consultancy Towers Watson.
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NewsKamp resists call to change Dutch pension funds' discount rate
NETHERLANDS – Dutch social affairs minister Henk Kamp has insisted the discount rate for pension funds' liabilities should remain unchanged until there is clarity on the new pension contracts early next year.
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NewsDanish pension funds to 'withdraw yield guarantees' in Solvency II run-up
DENMARK – The controversial decision by a major Danish labour market pension fund to shed yield guarantees for members is bound to be followed by others in the run-up to the Solvency II compliance deadline, the managing director of leading commercial provider Skandia predicts.
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NewsDutch metal scheme PME to avoid early benefits cut
NETHERLANDS – The €23.7bn Dutch metal scheme PME has said it will not apply early benefits cuts on 1 January 2011.
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NewsSwedish roundup: AP3, BlackRock, JP Morgan, AXA, M&G, Folksam
SWEDEN – AP3, Sweden's SEK209bn (€22bn) national buffer fund, has appointed 14 new regional corporate bond managers.
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NewsUK NEST rules out infrastructure, hedge funds for immediate future
UK – The UK National Employment Savings Trust (NEST) has ruled out any direct investments in infrastructure, commodities and high yield in its first few years of existence.
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NewsDutch pension funds should cut benefits by 8% on average, says OECD
NETHERLANDS – Restoring the financial health of Dutch pension funds will require an average benefits cut of 8% and a two-year increase of the retirement age to 67, Aart-Jan de Geus has argued.
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NewsGerman provinces consider suspending pension fund contributions
GERMANY – The German province of Bavaria and its northern neighbour Thuringia want to halt contributions to their civil servants pension funds to save money.
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NewsPensionDanmark posts 13.8% profit for year to date
DENMARK – PensionDanmark posted a 12.6% pre-tax investment profit for the first nine months of the year and said the result has grown further since the end of the reporting period to 13.8%.
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NewsUK schemes prefer overseas to domestic equity, PPF data shows
UK – UK pension funds are continuing to shift their equity investments away from domestic holdings to international shares, the latest Purple Book published by the Pension Protection Fund (PPF) has revealed.
