All IPE articles in September 2009 (Online)
View all stories from this issue.
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NewsProfond changes fee-structure post-crisis
[16:10 CEST 30-09] SWITZERLAND – The CHF2.2bn (€1.46bn) Swiss multi-employer pensionskasse Profond has changed the fee structure for its portfolio managers, in a bid to reduce costs.
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NewsRecovery allows Danica to improve pension terms
[16:10 CEST 30-09] DENMARK - Danica Pension, part of Denmark’s Danske Bank, has raised the account yield on its traditional pension plan and lifted the transfer penalty it introduced last autumn to deal with underfunding.
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NewsReinsured Dutch schemes given leeway on recovery plans
[16:00 CEST 30-09] NETHERLANDS - Reinsured pension schemes with a shortfall caused by credit risk at a reinsurer are not required to submit a recovery plan before 1 April 2010, the pension regulator De Nederlandsche Bank has announced.
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NewsSwedish government to overhaul AP7
[16:00 CEST 30-09] SWEDEN - The Swedish government is proposing wide-ranging changes to the country’s premium-based pension system (PPM) and AP7 - responsible for managing the premium choice and default funds - which will see both scrapped and transformed into a single new type of fund, in a bid to ...
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NewsWednesday people roundup (amended)
[15:30 CEST 30-09] GLOBAL – BNY Mellon AM, Avenir, Financial Supervisory Authority, Government Actuary’s Department, Gartmore, Skagen, Standard Life Investments, Aviva Investors, Profund, SNS Reaal, Insparo, UBS
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NewsPFA loses investment head in strategy shift
[15:00 CEST 30-09] DENMARK - Henrik Franck has made a sudden exit from his job as investment director at Denmark’s DKK227bn (€30.4bn) PFA Pension, amid sweeping changes at the pension supplier which have halved the investment team’s headcount.
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NewsPA Pension Trustees award fiduciary mandate
[14:45 CEST 30-09] UK – PA Pension Trustees Ltd has become the latest pension fund to award a fiduciary mandate to investment manager BlackRock.
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NewsITP calls in fund experts to assist tender review
[13:30 CEST 30-09] SWEDEN – Officials responsible for ITP, the Swedish white collar workers defined contribution pension scheme, are in the process of reviewing the entire operation and seeking advice from fund-related businesses on how to go about it, as the existing insurance wrapper contracts are due to expire next ...
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NewsFinnish pensions may recover quickly
[17:05 CEST 29-09] FINLAND – Finnish pension insurance companies may see investment incomes in 2009 recover the significant losses from last year quicker than expected, although there is still a need for people to work longer, Ilmarinen has claimed.
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NewsGerman BVI expects pension tax changes
[17:00 CEST 29-09] GERMANY – The German investment association (BVI) predict there will be amendments to the occupational pension sector rules, especially when it comes to equal tax opportunities for investment funds, following the change of the government coalition in Germany.
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NewsMNOPF completes £500m buy-in with Lucida
[16:55 CEST 29-09] UK – The Merchant Navy Officers Pension Fund has completed a £500m (€548m) buy-in with insurer Lucida, covering the pension liabilities of 22,000 retired members.
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NewsBAA seeks actuarial advice
[16:50 CEST 29-09] UK – BAA Airports Limited is seeking an actuarial consultant to provide advice to both its defined benefit (DB) and defined contribution (DC) schemes.
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NewsPension fund takes share of Jessops in debt swap deal
[16:45 CEST 29-09] UK – Jessops, the chain of UK photographic stores, has been saved from administration by a deal which will see trustees of its defined benefit pension plan as well as an unnamed employee benefits trust take the majority stake in the company.
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NewsDanish pensions solvency package could be extended
[16:15 CEST 29-09] DENMARK - The pensions solvency rescue package agreed last autumn between the Ministry of Economic and Business Affairs and the Danish Insurance Association could now be extended beyond the end of this year, and the two parties are now in talks.
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NewsIndustriens gains lift from equity exposure
[16:00 CEST 29-09] DENMARK - Industriens Pension, the Danish pension fund, generated an investment return of 16% in the first eight months of this year, with the growth largely won on the back of its increasing exposure to equities.
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NewsEmployers not budgeting for 2012 auto-enrolment
[17:10 CEST 28-09] UK – Employers claim payroll costs could increase by 3-4% if they auto-enrol staff into existing workplace pension schemes, yet just 32% of those planning to take this step from 2012 have so far budgeted for the change, the Association of Consulting Actuaries (ACA) has revealed.
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NewsUK pension investment rose £3.4bn in Q2
[17:05 CEST 28-09] UK – Self-administered pension funds increased net investment by £3.4bn (€3.7bn) in the second quarter of this year, according to latest figures from the Office of National Statistics (ONS).
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NewsHungarian pensions face investment cull
[17:00 CEST 28-09] HUNGARY – Plans by the Hungarian government to cap investments in foreign assets have been criticised by Hungarian pension funds.
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NewsSAUL to recruit independent trustee
[16:50 CEST 28-09] UK – SAUL Trustee Company, the trustee body of the University of London's support staff pension scheme, has advertised for an independent trustee to sit on both the board and the investment committee.
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NewsSwisscanto expands its pensions potential
[16:50 CEST 28-09] UK – Swisscanto, the asset manager, has widened its European presence and is now planning to target UK pension fund investor, even though it has operated in the UK for over 20 years.
