Funding – Page 148
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News
HSE reports pension deficit hits €29m
[16:40 CEST 23-07] IRELAND – The Health Service Executive (HSE) has revealed there was a 45% increase in the deficit of its defined benefit (DB) pension costs totalling €29m by the end of May.
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News
SPMS saw cover ratio drop by a third
[16:30 CEST 23-07] NETHERLANDS - The €4.2bn pension fund for medical consultants SPMS returned –16.2% on investments in 2008 and saw its cover ratio drop from 146% to 98%.
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News
Positive Q2 pushes NPRF above €19bn
[16:15 CEST 23-07] IRELAND – The National Pension Reserve Fund (NPRF) has grown in value by almost €4bn as it posted a second quarter investment return of 9.4%.
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News
PfZW maintains 100% cover ratio
[16:00 CEST 23-07] NETHERLANDS – Pensioenfonds Zorg & Welzijn, the Dutch pension fund for care and welfare workers, has managed to hold onto the 100% cover ratio achieved by the end of May, thanks to a strong second quarter of gains in most asset classes.
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News
Flight staff scheme is best performer at KLM
[16:30 CEST 22-07] NETHERLANDS - A €5bn pension scheme for KLM flight staff suffered an investment loss of 9.2% last year, yet this is hailed as being the best performing pension fund of the airline’s three large schemes in 2008.
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News
Thurgau puts faith in ALM study
[15:15 CEST 22-07] SWITZERLAND – The pensionskasse for the northern Swiss canton of Thurgau (PKTG) has hired Swiss consultancy Complementa to conduct an ALM study, after returning -18.9% last year.
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News
CHF350m needed as special payment from Swiss employers
[13:00 CEST 22-07] SWITZERLAND – Recovery measures planned by various Swiss pensionskassen will not have a significant effect on the country’s economy, according to a Swiss federal government report.
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News
Pensions delivery body clocks up £11m accounting deficit
[16:55 CEST 21-07] UK – The Personal Accounts Delivery Authority (PADA) has ended the financial year to 31 March 2009 with a net accounting deficit of £11.1m (€12.8m) in its "general fund" of capital, as funding solely from the government was insufficient to meet annual costs of £30.9m.
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News
UN staff fund grew 12.3% in second quarter
[16:30 CEST 21-07] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) reported an increase of $3.5bn (€2.46bn) in the second quarter of 2009.GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) reported an increase of $3.5bn (€2.46bn) in the second quarter of 2009.
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News
Union finds corporate bond Spezialfonds in demand
[16:15 CEST 21-07] GERMANY – Frankfurt-based Union Investment saw net inflows of €3.8bn in the first half of 2009.
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News
Building society announces closing of DB fund
[14:35 CEST 21-07] UK – West Bromwich Building Society has announced it is closing its defined benefit (DB) scheme to existing members from next month.
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News
Liechtenstein Sozialfonds to enhance risk taking
[14:20 CEST 21-07] LIECHTENSTEIN – The largest pensionskasse in the small principality of Liechtenstein, the ‘Sozialfonds’, says it is strong enough to take on longevity and other demographic risks itself.
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News
UK DC plan assets hit by falling markets
[16:45 CEST 20-07] UK – Falling global equity markets have caused the total assets in UK defined contribution (DC) plans to drop 2.3% to £420bn (€488bn), Aon Consulting has revealed.
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News
Interest and currency hedges help TNO limit losses
[16:40 CEST 20-07] NETHERLANDS - The €1.9bn pension fund of the institute for applied scientific research TNO managed to limit its loss to - 7.1% thanks to major hedging of both its interest and currency risks.
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News
BA trustees give up guarantee to avoid insolvency
[17:00 CEST 17-07] UK – Trustees of the British Airways pension schemes have handed £330m (€382m) of contingent assets back to the airline as part of an effort to try and help improve the firm's liquidity and avoid insolvency.
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News
Barclays faces strike threat over DB closure
[16:15 CEST 17-07] UK – Barclays workers are to be balloted by Unite the Union for potential strike action over the closure of the final salary pension scheme.
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News
Gov't recommended to halt NPRF premiums
[15:45 CEST 17-07] IRELAND – The continual payment of 1% of GDP into the National Pension Reserve Fund (NPRF) is "difficult to justify" and should be suspended in an effort to control public spending and borrowing, a group known as An Bord Snip Nua has told the government.
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News
FTSE 100 cash pension deficit passes £300bn
[15:30 CEST 17-07] UK – The total cash amount needed to meet the deficits in FTSE 100 defined benefit (DB) schemes now exceeds £300bn (€349bn), according to global accounting and consultancy firm Deloitte.
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News
Slovak funds down amid 'dramatic changes'
SLOVAKIA – The six funds in the Slovak mandatory second pillar posted negative returns for the second quarter of this year, halving the six-months’ performance just as a new bill introduced structural changes.
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News
TNT doubles pension premiums to deliver security
[16:15 CEST 16-07] NETHERLANDS – TNT, the Dutch postal service, almost doubled the employer contribution into its pension fund starting from April, in a bid to improve the cover ratio of its pension scheme.
