Funding – Page 118
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NewsUK roundup: Royal Mail Pension Plan, Aon Hewitt, Sun Chemical
UK – Parliament has approved a bill that will see the state shoulder the burden of Royal Mail's £8.4bn (€9.3bn) pension deficit, as legislation to privatise the institution gathers pace.
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NewsDutch roundup: IBM, pharmacy workers, Actuarial Society
NETHERLANDS – The €3bn Dutch pension fund of electronics giant IBM has granted its participants in defined benefit plans an indexation of almost 2.8%.
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NewsUK roundup: Pensions bill, Sackers, NAPF
UK – Legislation for the switch from the retail price index (RPI) to the consumer price index (CPI) is likely to be more restrictive than initially anticipated, pension law firm Sackers has said.
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NewsCredit Suisse index for Swiss pension funds returns 2.9%
SWITZERLAND – A sample of 100 Swiss pension funds returned 2.93% on average in 2010, according to the Pensionskassen index compiled by Credit Suisse.
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NewsIrish companies' pension deficits remain level despite volatility
IRELAND – Ireland's listed companies have seen only a €100m increase in pension fund deficits despite volatile markets over the past 12 months.
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NewsDanish commercial provider AP Pension reports 10% return
DENMARK – Investments at commercial pension provider AP Pension made an overall return of around 10% in 2010, the company said.
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NewsDutch roundup: SPF, SPOV, Dutch Antilles, Syntrus Achmea
NETHERLANDS – The €11bn railways scheme SPF and the €2.5bn public transport scheme SPOV have abandoned the salary index as a standard for their policy of conditional indexation.
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NewsDanica pension product posts 20.8% return for 2010
DENMARK – Danica Pension, one of the largest commercial pension providers in Europe, said 2010 full-year returns on its unit-link products were between 6.1% and 20.8%, depending on the risk profile.
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NewsUK roundup: Henderson, Gartmore, Paternoster, Rothesay Life, Club Vita, DWP
UK – Henderson Group has announced plans to acquire fund manager Gartmore for £335m (€403m), bringing to an end several months' worth of speculation surrounding the company's fate.
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NewsUK roundup: Russell Investments, Pension Protection Fund index
UK – Russell Investments has warned pension funds that lack of good governance on their part can lead to a loss of return.
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NewsSovereign annuities will 'kick-start' pension buyouts in Ireland
IRELAND – The introduction of sovereign annuities will kick-start the pension buyout market in Ireland, LCP has predicted.
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NewsDutch Federation to reveal schemes facing benefits cuts
NETHERLANDS – The Dutch Pension Federation, aiming to keep pension fund participants better informed, has said it will publish next month a list of those pension schemes that are likely to cut benefits in 2012.
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Romanian pension funds return 15.1% for 2010
ROMANIA – The nine pension funds in Romania’s mandatory second pillar ended the year with another positive quarter, bringing the total performance to 15.1%.
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NewsNPRF sees losses of 8% due to exposure to AIB, Bank of Ireland
IRELAND – The Irish National Pension Reserve Fund (NPRF) has seen part of its portfolio post negative returns of almost 8% last year, due to the sovereign fund's exposure to the country's ailing banks.
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Swedish roundup: SRI, Storebrand, Collectum, Prognosia, AP7, Pensionsmyndigheten
SWEDEN – The majority of Swedes believe in sustainable pension investments, according to a study by SPP, the pension and insurance provider owned by Storebrand.
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NewsIreland's pension funds see growth of 11% in 2010
IRELAND – Pension managed funds in Ireland returned an average of 11% last year, according to figures by Rubicon Investment Consulting.
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NewsKLM pension schemes buck trend to grant full indexation
NETHERLANDS – All three of KLM's pension funds have said they will grant indexation on 1 January 2011, following improved coverage ratios during the past quarter.
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NewsHigh risk investment options yield 25% returns for Danish FSP
DENMARK – Finanssektorens Pensionskasse (FSP), the DKK21bn (€2.8bn) Danish labour-pension fund for the financial industry, reported 2010 investment returns of up to 25.7% for its market-link pension products.
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NewsDenmark's Industriens posts 19% pre-tax return for 2010, lowers account dividend
DENMARK – Danish labour-market fund Industriens Pension has set its 2011 pre-tax account dividend lower than last year at 5.25%, on the back of a 2010 investment return of 12%.
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NewsDanish schemes maintain account dividends after 'good' year
DENMARK – Denmark's biggest commercial pension providers are holding their account dividends at this year's level, citing good investment results for 2010 as well as the level of reserves.
