Funding – Page 143
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News
Danes predict state pensions to fade like the dodo
[15:30 CEST 28-09] DENMARK - Confidence in the Danish basic state pension has faded because of perceived pressure on the public purse, as a new poll suggests 50% of younger working women believe the state pension will not exist when they retire.
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Finnish pension providers show strength in recession
[16:35 CEST 25-09] FINLAND – Finanssivalvonta, the Finnish Financial Supervisory Authority (FIN-FSA), has claimed the country's financial sector could cope with a "very severe recession", following the results of stress tests on the capital adequacy of banks and pension insurance companies.
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Three in four Irish workers expect retirement delay
[16:00 CEST 25-09] IRELAND/UK – The financial crisis is causing workers to think about delaying retirement, with almost three-quarters of Irish employees claiming they cannot afford to retire, research from Peninsula Ireland has revealed.
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News
Pensionskassen are 'confident' about Austrian court action
[15:45 CEST 25-09] AUSTRIA – Austrian opposition parties have called on the constitutional court to look into the law on pension funds following last year’s investment losses, but the pension fund association is confident the action will be dismissed.
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News
UK: WPP default fund charges 'should have stakeholder cap'
[17:00 CEST 24-09] UK - The default fund in workplace personal pensions (WPP) will need to carry charges below the current stakeholder pension level if they are to qualify for auto-enrolment, according to draft guidance published today by the UK government.
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News
Row over Swiss funding levels
[16:50 CEST 24-09] SWITZERLAND – Many pension funds are back to full funding after a significant market recovery in the first half of 2009 but Swiss experts say widely differing calculations on average 2008 funding levels have left them confused as to what pension funds' true funding levels are.
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News
Bulgaria may offer multifunds in 2010
[16:35 CEST 24-09] BULGARIA – Multi-funds, or investment portfolios with different risk profiles, could be introduced into the third pillar pensions regime next year if the government adopts a draft law by the end of 2009, the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) has revealed.
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News
LGA explores LGPS funding for schools
[16:30 CEST 24-09] UK – The executive of the Local Government Association (LGA) has authorised further investigation into the potential for establishing a collective investment fund for local authority pension schemes, so they may band together to invest in Private Finance Initiatives (PFI).
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NewsBelgium may benefit from US tax on TLP profits
BELGIUM – Policy Selection Limited (PSL), the fund management group behind the Assured Fund that invests in traded life policies, is to move the administration of the fund to Belgium to limit the impact of new withholding tax rules introduced by the US.
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NewsUK proposes flexibility on employer debt rules
[16:38 CEST 18-09] UK - Rules on how companies pay money into their pension schemes when they restructure may change under government proposals announced yesterday.
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NewsIcelandic pension funds lost 21.78% in 2008
[16:30 CEST 18-09] ICELAND – The real rate of return for Icelandic pension funds was -21.78% in 2008, while the value of net assets dropped by 6% to ISK1.6trn (€8.8bn), the Icelandic Financial Supervisory Authority (FME) has revealed.
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News
OECD pushes need for life expectancy link to pensions
[16:00 CEST 17-09] GLOBAL – Seventeen OECD countries have yet to implement some form of link to life expectancy against pensions, yet doing so might be a way for governments to convince individuals that they must bear some of the cost of providing for retirement, suggests a report delivered by an OECD pensions expert.
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News
Aggregate FTSE 250 pension deficit hits £12bn
[17:00 CEST 16-09] UK – The total deficit of defined benefit (DB) pension schemes run by companies listed on the FTSE 250 index doubled to £12bn (€13.5bn) over the 12 months to the end of June, research from Pension Capital Strategies (PCS) has suggested.
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News
Pensions Ombudsman maintains legal pressure on employers
[16:40 CEST 16-09] IRELAND – The Pensions Ombudsman is continuing to place pressure on employers to co-operate with its investigations and comply with pensions obligation, after attaining the successful prosecution of another employer in the construction industry.
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News
BPK scraps additional contributions
[16:15 CEST 16-09] SWITZERLAND - The CHF7.9bn (€5.2bn) Bernische Pensionskasse (BPK) has reviewed its recovery plans and will reduce its interest rate paid to members from January, just as regular contributions will rise.
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News
Icelandic pensions to set up specialist fund
[16:30 CEST 15-09] ICELAND – Icelandic pension funds are in the process of finalising details of the Icelandic Investment Fund (IIF), which will invest in domestic businesses that have suffered in the economic crisis.
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News
Northumberland scheme improves by £30m in Q2
[17:30 CEST 14-09] UK – The value of the Northumberland County Council pension fund increased by more than £30m (€34.1m) in the second quarter.
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News
Dutch pension fund investments rose by 4.5% in Q2
NETHERLANDS – The investment portfolios of Dutch pension funds increased in value by 4.5% (€25bn) in the second quarter, according to latest figures from De Nederlandsche Bank (DNB).
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News
Vauxhall pensions ‘unlikely to change’ after GM Europe sale
[17:40 CEST 11-09] UK – GM’s decision to sell its Vauxhall subsidiary to the Canadian company Magna International, along with its German operation Opel, is very unlikely to affect the Vauxhall pension schemes, according to officials at the UK car manufacturing group.
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News
Irish public sector pensions hit €108bn
[17:00 CEST 11-09] IRELAND – The accrued present value of public sector pension liabilities was estimated at €108bn at the end of December 2008, according to figures from the Comptroller and Auditor General (C&AG).
