Funding – Page 134
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NewsUK pensions body proposes rethink on retirement benefits
UK – The UK’s National Association of Pension Funds (NAPF) had today called for a radical overhaul of existing UK pensions terms, in a bid to increase pensions coverage but at the same time ease funding pressures on employers.
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NewsUK roundup: ITV, Loganair
UK – ITV has agreed a funding plan with trustees for the deficit of its defined benefit (DB) scheme after a completed partnership arrangement with trustees in relation to its SDN subsidiary cut the pension deficit by £124m (€138m).
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NewsTelia Sonera Pension funds return 12.5% in 2009
SWEDEN - Following the general trend in the Nordic region, Telia Sonera’s pension funds retuned 12.5% for 2009 compared to a loss of 8.5% in 2008.
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Industriens Pension active investments return 22.4% in 2009
DENMARK - Industriens Pension, the pension fund for the industrial sector in Denmark, returned 22.4% in 2009, before taxes. The positive return is a result of a large equity and corporate bond allocation.
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Swiss fund BLPK returns 9.5%
SWITZERLAND – Despite a 9.5% return for 2009 the Pensionskasse for the canton surrounding the city of Basel, BLPK, is still far from its 2007 near full funding level.
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UK roundup: Falkirk, Nabarro, SMF, public sector pensions
UK – Falkirk Council has appointed an active global equity manager, while law firm Nabarro has appointed an independent trustee for its pension scheme.
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PensionDanmark posts record returns for 2009
DENMARK – PensionDanmark’s full-year performance figures for 2009 showed the firm generated record returns of DKK10.5bn – a slight increase on the DKK10.4bn first published in preliminary numbers in February.
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German DAX firms paid 30% more into pensions in 2009
GERMANY – DAX 30 companies' pension payments reached €9bn in 2009, compared to €6.5bn the year before, Towers Watson has calculated. Overall funding funding levels remained the same.
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Swedish update: FPK posts 5.2% return for 2009
SWEDEN - Försäkringsbranschens Pensionskassa (FPK) the pension fund for the insurance industry in Sweden, returned 5.2% in 2009 as a result of strong stock market performance.
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UK roundup: RBS, Deloitte, Royal London
UK – Royal Bank of Scotland has revealed it has an overall pension deficit on its schemes of £2.91bn (€3.25bn). Meanwhile, Deloitte's pension deficit has more than trebled to £234m and Royal London has appointed an investment adviser for its £1.7bn scheme.
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'Fairer levy' possible through bottom-up risk, say PPF advisers
UK – An advisory body to the Pension Protection Fund (PPF) has claimed the PPF levy would "feel fairer" to the pensions community if it targeted a bottom-up approach to risk calculations, so that risk reduction by a scheme is reflected in a lower levy.
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Danish pensions received record contributions in 2009
DENMARK - Danes paid a record DKK116bn (€15.58bn) in pension contributions in 2009 despite the financial crises, according to latest numbers from the insurance association, Forsikring & Pension. However, officials warn contributions will fall in 2010.
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BA proposes benefit changes to aid recovery plan
UK – The £3.7bn (€4.1bn) deficit in British Airways' two defined benefit (DB) schemes is not going to "vanish overnight", say pensions experts, despite an agreement with trade unions on a new benefit structure for the pension funds.
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Men more likely to increase NEST contributions
UK – Women are less likely to contribute more than the minimum of 4% of qualifying earnings to a UK pension once auto-enrolment is introduced in 2012, consultancy Hymans Robertson has revealed.
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Swedish pension system shows deficit despite good AP results
SWEDEN - The Swedish state pension system, including the AP funds, saw record returns for 2009 but despite the positive performance the state system as a whole remains underfunded.
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NewsHungarian growth funds return almost 26%
HUNGARY – The growth portfolios of the 19 mandatory Hungarian pension funds returned 25.95% over the last year with the average performance of all funds standing at 18.6%.
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AP7 sees record returns in 2009
SWEDEN - AP7, the Swedish national buffer fund with a mandate to manage assets within the premium pension system, saw record returns for both of its portfolios in 2009, the last year it operated according to its old model.
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NewsSwiss PKBS gets another CHF800m injection
SWITZERLAND – The Swiss Pensionskasse for the city of Basel, PKBS, will receive another CHF795m (€544m) from the city but other public funds will be granted the right to remain underfunded.
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Swiss Post and PKBS deliver below average returns
SWITZERLAND – The Pensionskasse of the Swiss postal service (PK Post) as well as the one of the city of Basel (PKBS) returned 9.43% and 10.4% respectively last year - less than other pensionskassen because of their lower risk strategies.
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UK funding update: DB deficit improves to £15bn
UK – The aggregate funding position of almost 7,400 defined benefit (DB) schemes in the UK improved by more than £36bn (€39.7bn) in February and posted a deficit of £15.1bn, according to the latest research from the Pension Protection Fund (PPF).
