Returns – Page 165
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News
BT assets covered 57% of benefits in 2008
[16:10 CEST 10-08] UK – BT Pension Scheme, the £31.3bn pension fund of the telecoms giant, would have had enough assets to cover 57% of members’ benefits with an insurance company by the end of 2008 had its sponsor collapsed, the latest annual report has revealed.
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Dutch premiums may need to rise by a third – study
[16:30 CEST 07-08] NETHERLANDS – Current pension contribution levels may have to rise by an average of one-third by 2014, if pension funds are to recover their funding ratio to the required minimum of 105%, suggests research.
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ITV could have cut pensions deficit by £100m
[16:15 CEST 07-08] UK – ITV's pensions deficit had increased to £538m (€631m) on an IAS19 basis by the end of June. But the company has claimed this deficit could have been reduced by up to £100m if its proposals had been in place to cap pensionable salary increases to ...
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Keva posts 6.5% return in H1
[16:55 CEST 06-08] FINLAND - Kuntien eläkevakuutus (Keva), the local government pension institution, generated a return on its investments of 6.5% in the first half of 2009 following a continued rally from equity markets.
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Irish funds rose 6% in July
[16:40 CEST 06-08] IRELAND – Irish managed funds reported a positive performance for the fifth month in a row, after they returned of 6% in July.
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Dutch employers warn pensions must be cut
[15:30 CEST 05-08] NETHERLANDS - Dutch employers have called on pension arrangements to be cut, as the rapidly rising costs are said to be damaging the competitiveness of Dutch companies.
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AIB aggregate deficit exceeds €1.2bn
[15:00 CEST 05-09] IRELAND – The pensions deficit of Allied Irish Banks (AIB) - one of the institutions recapitalised by the National Pension Reserve Fund (NPRF) - rose by more than €150m in the first half of 2009, to €1.26bn.
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News
Belgian pensions make Q2 comeback
BELGIUM – Belgian pension funds have pulled back some of the losses seen in the financial turbulence of last year, as a strong performance in all sectors lifted funds within the second quarter, suggests data from Mercer.
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News
UNJSPF to monitor potential long-term risks
[16:40 CEST 04-08] GLOBAL – The UN Joint Staff Pension Fund confirmed it is closely monitoring market conditions “in the upcoming months” to identify and address potential long-term risks that could negatively impact the fund.
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NewsBPK recovery goes back to drawing board
[16:30 CEST 04-08] SWITZERLAND – The canton of Bern has rejected proposals for an increase in contributions to the Bernische pensionskasse (BPK).
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News
ITV consults on DB changes as deficit predicted to worsen
[16:00 CEST 04-08] UK – ITV has initiated a consultation with staff members over proposals to cap pensionable salary increases at 1% from January 2010, and is also offering pensioners the option of giving up pension increases on part of their pension in return for a "one-off uplift".
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NewsPension fund recoveries could hurt Dutch GDP - DNB
[15:45 CEST 04-08] NETHERLANDS - Pensions regulator De Nederlandsche Bank has claimed the mandatory recovery arrangements of Dutch pension funds may reduce GDP by 0.15% a year or 0.75% by 2013.
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News
Equity gains not enough to offset bond yield changes
[16:30 CEST 03-08] UK – Equity gains in the recent stock market rallies have not been “substantial” enough to offset falls in corporate bond yields, Aon Consulting has warned, and the result for the 200-largest defined benefit (DB) schemes was an aggregated deficit of £72.8bn (€85.7bn) by the end of July.
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NewsSwiss funds see first gain since 2007 - State Street
[16:15 CEST 03-08] SWITZERLAND – Swiss pensionskassen generated a 5.61% gain during the second quarter of this year, suggests data produced by State Street - the first positive return to be seen for two years.
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NewsPPF valuation changes may reduce costs by up to 10%
[15:45 CEST 03-08] UK – Planned changes by the Pension Protection Fund (PPF) to the assumptions used in section 143 and 179 valuations could reduce these liabilities by around 8% for pensioners and 10% for deferred pensioners.
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NewsPPF to set up steering group for revising levy plans
[16:35 CEST 31-07] UK – The Pension Protection Fund (PPF) is to establish a steering group to aid in the "refinement" of proposals for the development of the risk-based levy, following concerns over key areas such as long-term insolvency probabilities and the treatment of sophisticated investment strategies.
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News
Third pillar growth unbroken by crisis
[16:15 CEST 31-07] GERMANY/AUSTRIA – Interest in third pillar savings funds has remained high even through the financial crisis, according to both the German investment association BVI and the Austrian regulator FMA.
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NewsKeva to set up transition manager panel
[16:50 CEST 30-07] FINLAND - Kuntien eläkevakuutus (Keva), the Finnish Local Government Pensions Institution, is looking to establish a transition manager panel for its €20bn scheme.
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NewsBT and BAE hit by wider pension deficits
[16:15 CEST 30-07] UK – The BT Pension Scheme is still the UK’s largest pension scheme but financial figures published today show its deficit widened to a massive £8bn (€9.38bn) gross in the first quarter of its telecoms sponsor’s financial year, while BAE’s UK pensions deficits is now at over ...
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NewsTrinity deficit rises €80m as bond yields hit home
[16:30 CEST 30-07] UK – Falling corporate bond rates and rising inflation caused the pension deficit of Trinity Mirror's 10 defined benefit (DB) pension schemes to increase by £68.3m (€80m) in the first half of this year.
