Fees & Costs – Page 12
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News
IASB to seek views on future workplan; FRC sets out budget, priorities
The FRC said its projected spend for the coming year amounts to £52.2m (€60.7m). DB schemes are expected to contribute £1.2m under the pension scheme levy
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Dutch pension fund proposes pooling grandfathered pension rights
PGB’s proposal was introduced in its response to the consultation on the new Dutch pension law, which cements a transition from DB to DC arrangements
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British Airways defers £450m in contributions
The deferral will be backed by security granted by BA over specified property assets
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UK roundup: £1trn of DB pension risk to be insured by 2031, says Hymans
Plus: Graphic Packaging International switches fiduciary manager; BlackRock LTPC to acquire pensions software provider
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Universities scheme eyes ABS debut amid in-house fixed income boost
‘We are taking more of these mandates in house which means we are able to do more to invest the scheme’s assets at a lower cost than paying an external manager’
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NewsNorway’s SWF has half the outperformance of peers, government told
Oil fund has far lower investment costs than other large pension funds, report shows, according to CEM Benchmarking
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Trustees are lowest paid in pension scheme management: PwC survey
The average pay of a trustee who is not a board chair, but is likely to have additional responsibilities such as chairing a sub-committee, is £30,000 a year
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Aberdeen City Council completes buy-in transaction with Rothesay
The transaction will insure the pension payments of 1,360 retired FirstGroup employees
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NewsABP calls for change to funding ratio calculation to prevent pension cuts
Social Affairs Minister Wouter Koolmees’ expectation that ‘an average pension fund’ will not have to cut pensions until 2026 ‘is too optimistic’
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NewsRecord contribution hikes for Dutch pension funds
‘If accumulation falls to close to 1%, the pension ambition of 75% of average wages will no longer be achievable’
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AXA Switzerland applies interest rate on 2020 occupational pensions
AXA pursues ‘an investment approach that takes into account the risks, with a high degree of diversification based on the best-in-class principle and strict ESG criteria’
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NewsDutch pension providers still in the dark on pension transition costs
The pension transition will also come at a cost for asset managers
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BVV adds Barclays Hamburg branch to Pensionsfonds assets
BVV has seen assets worth around €1bn outsourced to its Pensionsfonds since 2008
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NewsUK roundup: Marie Curie’s bulk annuity deal with L&G
Plus: TPR’s long-term targets will add extra financial pressure to UK plan sponsors, says Aon
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NewsSpanish Supreme Court orders dividend tax refund to Canadian pension fund
Several European pension funds have already won cases to claim back dividend withholding tax from Spain
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NewsDutch government to postpone lump sum introduction to 2023
Under the Dutch tax system, the effective income tax rate in the year people retire rises the later one reaches pensionable age
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NewsNordic roundup: Lobby group defends pension funds on alts valuations
Plus: Danish FSA to scrutinise pension provider management systems, AP7 shrinks fee for its €62bn equity fund
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VBV Vorsorgekasse takes over severance pay of Porsche employees
The 7,000 employees will move to the VBV-Vorsorgekasse from the current provider Bonus Vorsorgekasse
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Danish competition watchdog takes aim at pension fees model
Commercial providers found to use around 37% profit from investment fees as loss leader to lure corporate clients
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APG’s Van Olphen sees ‘coaching role’ for Dutch pension funds
‘The historical complexity of pension arrangements in the Netherlands would disappear with the pension transition’
