All articles by Barbara Ottawa – Page 89
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"Too early" for IORP review - Verhaegen
[12:30 CET 14-11] EUROPE – Plans by the European Commission to review the IORP pensions directive next spring were "not a sign of good regulatory governance" as the full implementation was only finalised this summer, Chris Verhaegen, secretary-general of the European Federation of Retirement Provision (EFRP) has told IPE.
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Romanians rush into second pillar
ROMANIA – Over half of the Romanian workforce has already signed up for the new mandatory second-pillar pension system, including many for whom joining is not mandatory.
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Trustees 'lack objectivity' in judging sponsors
[16:00 CET 13-11] UK – Too few trustees doubt their company's ability to continue sponsoring the pension scheme, consultancy firm Hewitt has suggested.
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Experts criticise social tax exemption
[16:15 CET 12-11] GERMANY – Finance experts fear there could be negative effects from a move by the German government to ensure money transferred to pension funds, as part of a person's salary, will remain exempt from social tax indefinitely.
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Pensionskassen growth stagnates - GDV
[11:00 CET 09-11] GERMANY – Germans remain cautious about investing money long-term despite good economic development, the association of German insurers (GDV) has found.
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NAPF calls for fresh Myners Review
[16:45 CET 08-11] UK - The National Association of Pension Funds (NAPF) has suggested there should now be a complete review of the pensions principles set up by former head of Gartmore fund managers, Paul Myners, in 2001.
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Let funds decide on conversion rate – OECD
[11:00 CET 08-11] SWITZERLAND – The rate with which accrued pension assets are converted into benefit payments should not be decided by politicians, said the Organisation for Economic Co-Operation and Development (OECD).
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NPRF seeks managers to double EM exposure
[16:30 CET 07-11] IRELAND – The €21.3bn National Pension Reserve Fund (NPRF) is tendering €600m in emerging markets equities.
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Norwegian fund excludes British company
[16:15 CET 07-11] NORWAY – The NOK2trn (€250bn) Norwegian government pension fund has excluded UK mining and metal company Vedanta Resources from its investment universe because of human rights violations and for causing environmental damage.
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Cardano replaces Hewitt at £3bn pension fund
[16:00 CET 07-11] UK – The newly-opened London office of Rotterdam-based consultant Cardano has won its first mandate, from the AstraZeneca pension fund.
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IPE-QUEST: $50m in Swiss fund equity investments (amended)
[11:00 CET 07-11] SWITZERLAND – A Swiss corporate pension fund is looking for managers for one $50m (€34.4m) global equity mandate via IPE-Quest. (amends mandate size)
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M&S makes £95m from pension cuts
[16:30 CET 06-11] UK – As pension scheme members consent to slow down benefit increases British retail group Marks & Spencer (M&S) reports a £95m (€136.5m) exceptional pension credit in its interim results.
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Irish funds return 1.7% in October
[16:30 CET 06-11] IRELAND – All managed pension funds were back to positive returns after the market turmoil of the summer with the average fund returning 1.7%.
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Deloitte under review at TPR
[15:30 CET 06-11] UK – The Pensions Regulator (TPR) is tendering for a new internal auditor.
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PPM wants to 'wake up' DC members
[15:15 CET 06-11] SWEDEN – The Premium Pension Authority PPM is planning to send a reminder to 600,000 members of the compulsory defined contribution system who have not changed their fund selection since entering.
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Pension funds still set longevity too low – PCS
[16:45 CET 05-11] UK – Pension liabilities of the top 100 London-listed companies could be underestimated by as much as £40m (€57.5m), risk management firm Pension Capital Strategies (PCS) is convinced.
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Swiss funds return 3.5% - Lusenti
[16:30 CET 05-11] SWITZERLAND – Swiss Pensionskassen returned 3.5% in the first half of this year, and consultancy Lusenti is expecting similar returns even after recent market turbulence.
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HVB sells out pension consulting
[16:10 CET 05-11] GERMANY – The Bavarian HypoVereinsbank (HVB) has sold parts of its subsidiary Pension Consult in order to focus solely on Pensionsfonds.
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Pension companies double hedge fund investment
[16:45 CET 01-11] FINLAND – Pension insurance companies are moving to hedge funds for better returns as bond markets fail to impress, statistics reveal.
