All articles by Barbara Ottawa – Page 73
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NewsRegulators urged to leave pension funds alone
[17:00 CEST 30-04] EUROPE – Regulators came under strong criticism at a conference in Salzburg earlier this week, when Swiss consultant Felix Kottmann and Dutch fiduciary adviser Anton van Nunen told them to back away from damaging pensions.
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Asset managers 'could do more' on pensions
[16:30 CEST 28-04] GERMANY – At least 20% of asset managers, KAGs banks, insurances and other product providers in Germany admit they are not investing enough or not investing at all in the retirement business within their companies.
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Dutch discount rate set to change – Van Nunen
[15:15 CEST 28-04] NETHERLANDS – Dutch pension funds are not as poor as they look and calculation methods for liabilities will change to draw a more accurate picture, according to Dutch fiduciary management consultant Anton Van Nunen.
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Allianz rallies against 'safety pension'
[16:40 CEST 27-04] AUSTRIA – Calls to introduce a 'safety pension' with a lower calculation rate in Austria will not completely rule out the need for pension cuts, officials at Allianz have argued.
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Bulk of Swiss schemes now underfunded
[14:00 CEST 24-04] SWITZERLAND – The number of underfunded Swiss Pensionskassen has increased considerably in the first quarter with 74,3% now being below the full funding level.
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The winter of Swiss discontent?
[11:00 CEST 23-04] SWITZERLAND – A referendum against a cut in the conversion rate of the Swiss mandatory second pillar pension regime will most likely happen before Christmas.
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Germans prepare for lower pension
[16:45 CEST 22-04] GERMANY – The number of Germans who think they will have to cut expenses at retirement is on the rise, while fewer people are willing to save privately for their pension, research has suggested.
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Publica loses another 1.43%
[16:35 CEST 21-04] SWITZERLAND – The Swiss Pensionskasse for civil servants Publica returned -1.43% in the first three months of this year.
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Eureko and Poland to enter 'secret' talks
POLAND – Dutch insurer Eureko and the Polish Treasury have signed a new memorandum to bring about a new round of negotiations concerning the insurer's shareholding in pension firm PZU.
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Providers say traditional diversification needs rethink
[17:00 CEST 16-04] EUROPE – Classic balanced or multi-asset mandates have failed to protect pension funds during the current crisis and need to be reconsidered, according to both Allianz Global Investors and German consultancy Heubeck Feri.
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Estonian gov’t takes contribution holiday
ESTONIA – The government of Estonia is suspending payment of its contributions to the second pillar pension regime for two years.
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Negative Q1 for Swiss pension funds
[17:10 CEST 15-04] SWITZERLAND – Swiss pensionskassen returned -1.5% in the first quarter, according to the latest calculations by Credit Suisse.
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IMF warns Croatia against changing second pillar
CROATIA – The International Monetary Fund (IMF) has warned there could a negative repurcussions which go beyond the pension system should Croatia abolish occupational pension provision.
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Unions agree to AUA contribution cut
[17:15 CEST 09-04] AUSTRIA – Employee representatives of onboard staff at Austrian Airlines Group (AUA) have consented to a 75% cut in company contributions to their pension fund for one year.
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Companies need pension guarantees – VFPK
[17:10 CEST 08-04] GERMANY – Pensionskassen in Germany have survived the second major crisis since their implementation but Peter Hadasch, chairman of the association of company Pensionskassen VFPK, believes there is scope for further growth.
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NewsGermany needs more private pension - Rürup
[17:15 CEST 07-04] GERMANY – The German pension system should be made up of 60% state pension and 40% private retirement provision, pension expert Bernd Rürup has told a conference in Berlin.
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NewsÖPAG head says second pillar loss is unrealistic
[16:50 CEST 06-04] AUSTRIA – The Austrian Pensionskassen system has been harshly criticised in the wake of the financial crisis but no politician can seriously think about abolishing the system, claimed Andreas Zakostelsky, head of the ÖPAG Pensionskasse.
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Luzern Pensionskasse loses 10.3%
[17:00 CEST 03-04] SWITZERLAND – The Pensionskasse for the Swiss canton of Luzern (LUPK) reported a negative result of 10.3% for 2008, as a result of massive losses from its equity and alternatives exposure.
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Germany faces Riester changes
[17:00 CEST 01-04] GERMANY – The state-subsidised German supplementary pension vehicle Riester violates EU labour laws and changes must therefore be made, according to Advocate General to the European Court of Justice (ECJ).
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NAEV reaches required actuarial rate
[16:40 CEST 31-03] GERMANY – Nordrheinische Ärzteversorgung (NAEV), the German doctors’ pension fund, has managed to reach the required actuarial rate of 4%, IPE has learned.
