Funding – Page 167
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News
APW expands inflation bonds margin
[18-12] NETHERLANDS - The €678m pension fund of media company Wegener (APW) has widened the investment window for inflation-linked bonds, as part of a recovery plan to tackle underfunding.
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Polish funds deliver worst result ever
POLAND – Assets in polish pension funds were down -6.8% in October alone, making it the worst month in the history of the system.
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BPF Schilders postpones indexation
[15:35 CET 16-12] NETHERLANDS - BPF Schilders, the pension fund for the painting, glazing and finishing sector, will not grant its members an indexation payment in the short-term, but will reconsider its decision next summer.
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Railways scheme to pay 2% indexation
[17:00 CET 15-12] NETHERLANDS - The €10bn railways pension fund SPF will be the first large pension fund to pay its 74,000 participants an indexation for 2008.
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Shell’s funding ratio tumbles
[17:10 CET 12-12] NETHERLANDS – The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
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News
To fund or not to fund now – a Basle question
[17:15 CET 11-12] SWITZERLAND – Parties in the Swiss canton of Basle city are divided over the question whether or not to postpone payments to the pension fund in light of the current financial crisis.
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News
Germans claim to believe in long-term profit
[17:05 CET 08-12] GERMANY – Only 10% of Germans have changed their private pension provision on the back of the financial crisis, a survey by JPMorgan has found.
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NewsIreland allows two-year annuity deferral
[15:15 CET 05-12] IRELAND – Members of Irish defined contribution (DC) occupational schemes have been given the option of deferring for two years the need to buy an annuity at retirement.
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NewsDanica to cut pension interest to 1.5% in 2009
[17:15 CET 04-12] DENMARK – Danica Pension, the DKK 241bn (€32.36bn) pension arm of Danske Bank, has announced it will pay a net interest rate of 1.5% for all customers with Danica Traditional pension plans.
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NewsFinnish pensions may require more risk-taking
[17:00 CET 03-12] FINLAND – The Bank of Finland has warned uncertainty about its ageing population and potential future tax rises of over 5% could destabilise the entire welfare state and lead to a future reduction in social services and transfers.
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NewsDanish pension interest could fall to 4%
[16:20 CET 03-12] DENMARK – Forsikring & Pension, the Danish Insurance Association, has warned pension customers are likely to see interest on their accounts fall below the base rate to at maximum of 4.5% in 2009.
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Danish pensions avoid 'red' traffic light
[17:00 CET 02-12] DENMARK – Finanstilsynet, the Danish Financial Supervisory Authority, has confirmed no life insurance companies and pension funds has triggered the 'red light' in its traffic light warning system.
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NewsIrish funds drop 4% in November
[16:55 CET 02-12] IRELAND – Irish managed pension funds fell 4% in November although there were signs of some stability towards the end of the month, Hewitt Associates has claimed.
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NewsPNO Media's cover ratio falls to 95%
[16:15 CET 02-12] NETHERLANDS - The €2.5bn pension fund PNO Media has seen its cover ratio drop by 25% so far this year, leading to a funding ratio of 95.1% at the end of October - far below the critical level of 105% at which the fund must tell regulators ...
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News
NPRF may be used to shore up Irish banks
[17:209 CET 01-12] IRELAND – Brian Lenihan, the minister for finance has confirmed the government could use the National Pension Reserve Fund (NPRF) "in certain circumstances" to shore up its banking industry and financial system.
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News
Market crisis makes CWPS cases harder - Kenny
[17:15 CET 01-12] IRELAND – The Pensions Ombudsman has admitted the impact of the financial crisis on construction companies is making it harder to get contributions from employers who have failed to pass deductions onto the Construction Workers Pension Scheme (CWPS).
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News
ABP raises contribution by 0.4%
[16:50 CET 28-11] NETHERLANDS - ABP, the €190bn civil service pension scheme, will raise pension contributions by 0.4% of participants’ salaries next year.
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News
Underfunded Swiss funds soldier on
[16:55 CET 27-11] SWITZERLAND – The €5.56bn Bernische Pensionskasse (BPK) will start talks on a possible restructure early next year, while the pension funds of Swiss railway company SBB have abandoned plans to sue the federal government.
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News
Swiss households lost CHF1.8m through 2nd pillar
[16:15 CET 20-11] SWITZERLAND – Swiss households’ savings in Pensionskassen and insurances grew only half as much as in 2007 than in the year before, according to the Swiss National Bank (SNB).
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News
German doctors fund raises retirement age
[15:50 CET 17-11] GERMANY – The doctors’ pension fund for Westfalen-Lippe (ÄVWL) has raised the retirement age to deal with a surprise increase in longevity.
