Funding – Page 168
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NewsGerman funds shun risk, abandon target returns – poll
[16:30 CET 13-11] GERMANY – Risk aversion has become much more of a priority for large German institutional investors, according to the latest poll by Union Investment.
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NewsBT pension changes will save €119m a year
[16:20 CET 13-11] UK – British Telecom (BT) has revealed the proposed changes to its defined benefit pension scheme will save the firm around £100m (€119m) a year.
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BT consults with staff on pension changes
[15:50 CET 11-11] UK – British Telecom is beginning a formal 60-day consultation period with employees on proposed changes to its defined benefit (DB) and defined contribution (DC) pension schemes to make the pension provision "sustainable and affordable".
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UK's combined deficit now €119bn - PPF
[17:30 CET 10-11] UK – The Pension Protection Fund (PPF) has revealed the aggregate funding position of almost 7,800 defined benefit (DB) schemes reached a deficit of £97.3bn (€119bn) at the end of October.
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Guernsey superannuation fund drops £142m
[17:20 CET 07-11] UK – The States of Guernsey has revealed the Superannuation Fund for public sector employees has declined in value by £142m (€175m) in 2008.
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ABP begins long-term recovery plan
[16:30 CEST 23-10] NETHERLANDS – ABP, the Netherlands’ largest pension fund, will have to submit a proposal to the pensions regulator explaining how it will improve its solvency ratio as latest figures from the €195bn pension fund shows its cover ratio has dropped below 125%.
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1 in 4 schemes to fail TPR's 10-year plan
[15:35 CEST 29-05] UK – More than a quarter of lay trustees do not believe they will meet The Pension Regulator's expectations of clearing the defined benefit (DB) scheme deficit within the next decade, Aon Consulting has claimed.
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ABP returns 3.8% in "two-faced" 2007 (Update)
[14:00 CEST 20-05] NETHERLANDS – The €216.5bn ABP fund, the industry wide scheme for Dutch civil servants, praised 2007 as a good year, despite booking its lowest investment return in years.
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€16m cash injection cuts IAA deficit by €6.5m
[16:20 CEST 28-04] IRELAND – The Irish Aviation Authority has reduced the deficit on its defined benefit scheme by only €6.5m, despite additional cash contributions of more than €16m in 2007.
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22% of Irish schemes have reduced benefits – Mercer
[12:30 CEST 28-04] IRELAND – Around 22% of Irish defined benefit (DB) pension schemes have modified their benefits in the last two years, and have generally reduced future benefits in some form, according to consultancy firm Mercer.
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‘Reform Dutch first pillar’ – OECD
[16:50 CET 31-01] EUROPE – The Organisation for Economic Co-operation and Development (OECD) has proposed reforming the Dutch first pillar pension system, which unrevised will account for the bulk of future deficits.
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ABP sees strong profit in alternatives
[15:00 CET 16-01] NETHERLANDS - Alternative investments was the best returning asset class for the large civil service pension scheme ABP, while total returns on investments reached 3.8% during 2007.
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Aargau to pay CHF1.7bn into pension
[14:00 CET 21-12] SWITZERLAND – Standard & Poor’s has awarded the Swiss canton of Aargau the top credit rating ‘AAA’ partly because of the region’s commitment to fully fund its Pensionskasse from next year.
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25% of CEE wealth to grow from pension funds – UniCredit
[16:10 CET 06-12] EUROPE – Over the next two years pension fund assets will increase household wealth in Central and Eastern Europe by €83bn which is one fourth of the total growth, banking group UniCredit finds.
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100,000 waiting at PPF doorstep
[13:00 CET 29-10] UK – At least 170 pension schemes in deficit are now in the assessment period, the Pension Protection Fund (PPF) disclosed in its annual report.
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Aargau scheme in search for new members
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF6bn (€3.7bn) pension fund for civil servants in the northern canton of Aargau, has posted an an above-average return for 2006 and said that it will open its doors to extra-cantonal employers.
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ABP returns 9.5% for 2006 and announces new strategic portfolio
NETHERLANDS – Giant Dutch pension fund ABP booked a fourth quarter return of 3.9%, and a total return of 9.5% for 2006, raising the scheme’s entire assets to €209bn.
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€5.3bn Hoechst fund wary of alternatives
GERMANY – Hoechster Pensionskasse (HPK), the €5.3bn pension fund for companies that were part of the old Hoechst chemical conglomerate, says it is wary of investing in alternative asset classes currently due to what it perceives as weaknesses with the products.
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Negative returns at Dutch transport, postal funds
NETHERLANDS - The Spoorwegpensioenfonds SPF has booked negative returns of -2.5% during the second quarter of 2006, the €11.1bn scheme reported.
