Returns – Page 149
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News
Austrian funds increase equity allocation in Q1
AUSTRIA – Official figures for the first quarter performance show a significant increase in the equity holdings of Austrian pensionskassen, which are the subject of further reform proposals.
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NewsInflation fears sustain large FTSE350 deficits
UK – Growing long-term inflation expectations have offset the effects of equity market gains, causing the aggregated pension deficit of FTSE350 companies to be valued at £160bn (€187bn) at the end of March 2010.
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NewsUnited Utilities slashes deficit with DB changes
UK – United Utilities claims it reduced its pension deficit by approximately £90m (€104m) through a number of changes to its defined benefit (DB) schemes.
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NewsDWP to face a £535m spending cut ahead of new Pensions Bill
UK – The Department for Work and Pensions (DWP) will be expected to make savings of more than half a billion pounds this financial year, according to HM Treasury.
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NewsRisk, not returns, drives German sustainable investments
GERMANY – The need to optimise risk management, rather than to boost investment returns, is the main reason German institutional investors consider sustainable investments, according to a study by Union Investments.
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News
Industriens gains 15.4% on stocks but uncertainty looms
DENMARK – Industriens Pension, the pension fund for the industrial sector in Denmark, benefited from a 15.4% return on Danish stocks in the first quarter of 2010, with its global equities portfolio delivering half that (7.7%) in total.
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News
Romanian austerity measures threaten second pillar
ROMANIA – The Romanian finance ministry is seeking to cut the contribution rate to the second pillar from 2.5% to 0.5%, but is facing opposition from the country’s pensions industry.
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News
Cover ratio of Dutch funds recovers to 109% – DNB
NETHERLANDS – Dutch pension funds’ nominal cover ratio has improved from 95% to 109% on average in 2009, while their combined assets have increased by €86bn to €663bn, according to pensions supervisor De Nederlandsche Bank (DNB).
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News
UK roundup: Hewitt Associates, DWP statistics, CIPFA
UK – Hewitt Associates has estimated a £1.2trn personal pension shortfall in individual retirement income, while the Department of Work and Pensions (DWP) has revealed occupational pension benefits made up a quarter of UK pensioners' income in 2008-09, and the Chartered Institute of Public Finance and Accountancy (CIPFA) has warned ...
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News
Swiss AHV reviews asset allocation ahead of split
SWITZERLAND – The CHF26.7bn (€19bn) Swiss Federal Social Security Fund (AHV/AVS) will split into three from 2011 following 63 years running as a single entity.
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News
LGPS must adapt to avoid spending cuts – Mayer
UK – Public sector pension schemes will have to accept changes if they are to survive potential funding cuts, the London Pension Fund Authority (LPFA) has warned.
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Swiss funds shying from their core business – Profond
SWITZERLAND – Swiss Pensionskassen are shying away from longevity risk by outsourcing pensioners and switching to DC, a trend criticised by Herbert Brändli, head of the multi-employer fund Profond.
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News
Minister defends lower FTK parameters
NETHERLANDS – Dutch pension contributions can remain at the same level for the short term for most funds following a decrease in the upper limits for forecast returns, according to social affairs minister Piet Hein Donner.
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News
Only 1 in 10 Swiss funds has sufficient buffer – Swisscanto
SWITZERLAND – The majority of Swiss pensions funds have recovered to full funding levels, but only 10% have repaired their buffers, according to Swisscanto.
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News
Overseas equities drive up Icelandic pension assets
ICELAND – Net pension fund assets at the end of March increased by approximately ISK44bn to ISK1.846trn (€11.3bn) as the value of foreign equity investments increased, figures from the Central Bank of Iceland have revealed.
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News
Japanese equities help Belgian schemes post positive Q1 return
BELGIUM – Pension funds in Belgium delivered an average return of 4.4% in the first quarter of 2010, according to a study by Mercer.
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News
Swedish roundup: KPA, Folksam, Länsförsäkringar, SIFA
SWEDEN - Swedish pension providers have continued to show positive numbers for the first quarter.
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News
German employers propose simplified solvency levy
GERMANY – The German federation of employer representatives (BDA) is suggesting a simplified alternative to its proposal for a risk-based levy to the German pension insolvency fund PSV.
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NewsTNO scheme returns 6.2% in first quarter
NETHERLANDS - The €2.1bn pension fund of the applied technical research institute TNO returned 6.2% on investments during the first quarter of 2010.
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NewsUK roundup: Marks & Spencer, J Sainsbury, BT Group
UK – Marks & Spencer and J Sainsbury have announced agreements to help cut the deficit in defined benefit pension schemes through property partnerships. Elsewhere, BT has reported an increase in its pension deficit on an accounting basis.
