Funding – Page 163
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News
Cautious DNB examines recovery time
[16:00 CET 02-02] NETHERLANDS - The president of the Dutch central bank and pension regulator will decide before 1 March whether pension funds will be given more time to recover from the credit crisis, though he has stressed in advance he does not favour giving more time to repair their ...
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Consumer body rallies against recovery plan delay
[15:45 CET 02-02] NETHERLANDS – Consumentenbond, the large Dutch consumers’ lobbying organisation, has spoken out against calls for a more generous recovery period for underfunded pension funds.
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FeaturesPensions in Obama’s sights
When Barack Obama is inaugurated as president in January 2009, provisions affecting the pension fund industry could well be an important part of his intended new economic stimulus. But this follows little debate about the retirement system during the campaign, except when US employee’s losses in 401(k) individual accounts were ...
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Features
Sovereign funds under pressure
Sovereign pension funds (SPFs) have emerged in recent years as part of governments’ moves to ensure they had enough financing to cover state pension obligations without relying on pay-as-you-go tax schemes. In recent months, however, two of Europe’s largest government schemes - Norway’s Government Pension Fund - Global and the ...
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FeaturesBeware Japanese proverbs
The experience of Japanese pension funds in the 1990s provides an interesting lesson for Western investors, finds David White
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News
VB joins pressure for more recovery time
[16:55 CET 30-01] NETHERLANDS – Gerard Riemen, director of the Dutch association of industry-wide pension funds (VB), has joined several unions and employer representative bodies in their plea to give pension funds more time to recover.
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News
Unite agree Ineos deal as sights turn to Selex
[16:50 CET 30-01] UK – Unite the Union has confirmed the pensions dispute with INEOS over planned changes to the defined benefit (DB) pension scheme is at an end after revised proposals, such as the scheme remaining open to new entrants, were accepted by members.
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News
Zurich to set up new Royal Mail DC scheme
[16:10 CET 30-01] UK – Royal Mail has appointed Zurich to provide a new defined contribution (DC) scheme starting in April 2009.
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News
IBM withholds indexation as BPF Bouw imposes limit
[16:00 CET 30-01] NETHERLANDS - BPF Bouw, the pension fund for the building industry, will only grant its active participants an indexation of their pension claims for 2009 while IBM is holding off from paying it this year.
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News
Funds blame bulk of decline on interest rates
[16:40 CET 29-01] NETHERLANDS – Major pension funds have argued up to two-thirds of the decline in their cover ratios, which now hover between 85% and 100%, was because of the steep drop in interest rates.
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News
EDHEC sees banking solution in Solvency II-type funding
[16:30 CET 29-01] EUROPE – Applying Solvency II flexible funding rules to banks would have substantially reduced the need for recent government monetary support to the sector, academics from French business school EDHEC have claimed.
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News
L&G wins buy-in as new AUM drops 39%
[16:00 CET 29-01] UK – The Press Association Pension Fund has completed a £60m (€65m) 'buy-in' of its pensioner liabilities with Legal & General (L&G) at the same time as the insurer revealed its gross new funds under management dropped 39% to £33.1bn in 2008.
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News
€72bn evaporated from Dutch big four in 2008
[15:45 CET 29-01] NETHERLANDS – The four largest pension funds in the Netherlands, ABP, PFZW, PMT and PME, have seen their assets drop by €71.6bn as a results of the credit crunch.
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News
State fund to boost economy through corporate debt
[16:20 CET 28-01] FINLAND – The ministry of finance is to allow the State Pension Fund VER to purchase commercial paper in “significant and solid Finnish companies” as part of a series of proposals to help boost the Finnish financial markets.
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News
Pension funds set to receive €500m in Dutch tax rebates
[16:20 CET 28-01] NETHERLANDS/UK – The Dutch tax office will have to refund up €500m to pension funds after a legal challenge by the UK’s £9.24bn (€10.3bn) Strathclyde pension fund.
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Scheme costs drop 4.7% as buyouts increase
[16:10 CET 28-01] UK – Pension scheme expenditure on pension benefits fell by 4.7% in 2007, the first significant decrease since 1984, and a move which the Office of National Statistics (ONS) attributes to an increase in pension buyouts.
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News
Last-minute gains fail to recover Polish funds
POLAND – After reporting the worst month since inception of the system, Polish pension funds managed to return 3.6% in November and December 2008.
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News
AUA mulls flight from pensions payment
[16:45 CET 27-01] AUSTRIA – The Austrian airlines group AUA is considering halting payments to the Pensionskasse in a bid to save money.
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News
One in four plans up mortality assumptions
[16:30 CET 27-01] UK – More than a quarter of UK pension schemes are planning to switch to a long cohort mortality projection for their mortality assumptions, potentially increasing life expectancy by almost two years, suggests research from Mercer.
