Funding – Page 32
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Dutch regulator’s pension fund aims for 30% outperformance on ESG
Pensioenfonds De Nederlandsche Bank also plans to reduce its carbon footprint by 10% relative to benchmark, and cut controversial weapons and tobacco from its investment universe
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NewsDe-risking deals totalled £17.6bn in H1: LCP
Legal & General and Pension Insurance Corporation dominated the market for buy-ins and buyouts in the first six months of 2019, and the total for the full year is set to be a record
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UK roundup: The best and worst industries for employer contributions
Also: The Pensions Regulator authorises DC master trusts run by Aon and Railpen
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‘Link investment policies to scheme demographics’, says trustee
Schemes’ investment policies should be geared to the age of a scheme’s population, says Dutch pension trustee Paul de Geus
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UK universities back fresh funding proposal for USS
Employers backing the UK’s largest pension scheme agree to measures supporting lower contribution rates, including a moratorium on exits
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Tobacco giant seals £3.4bn pension de-risking deal with PIC
Transaction accounts for the bulk of British American Tobacco’s UK DB pension fund, and is Pension Insurance Corporation’s biggest deal to date
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Dutch scheme funding declines during second quarter
Total assets across 229 pension schemes rose by €55bn, but liabilities were pushed €96bn higher by falling interest rates
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Alcatel-Lucent scheme’s liquidation to last until 2023
Parent company Nokia will continue to compensate the pension fund for terminating its contract in 2011, while contributions will be channelled to members since transferred to PME
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Dutch multi-employer scheme backtracks on consolidation plan
Multi-company schemes have fallen out of favour in recent years with the rise of APFs – Pensioenfonds Pon is the last remaining in the Netherlands
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€3.2bn Delta Lloyd scheme assessing options following NN acquisition
The scheme’s board has decided against merging with NN’s CDC scheme but could move to an APF, stay independent, or opt for a buyout with an insurer
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Accounting body could drop hybrid scheme work, IASB warns
The international standard setter is looking for help from the European Financial Reporting Advisory Group to inform its work on accounting for hybrid pension funds
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USS assets hit £68bn as deficit climbs again [updated]
UK’s biggest pension scheme aims to improve communication policies as member dissatisfaction grows
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Experts voice concerns over planned Italian second-pillar fund
Aon and SSGA say Italy’s INPS is unsuited to run a proposed new pension fund and should focus on developing existing arrangements
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Biggest Dutch pension funds face imminent benefit cuts following new rules
Nearly 6m active, deferred and retired members of the Netherlands’ two largest schemes face cuts next year if funding levels fall further in 2019
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XPS: UK schemes sitting on £260bn accounting ‘black hole’
Difference between accounting numbers and long-term assumptions is increasing, according to XPS’s annual survey
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NewsDutch low-cost DC schemes approach €10bn in assets
PPIs managed €9.7bn in total at the end of March, marking a 20% increase in just three months
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PPF assets grow to £32bn but surplus hit by Kodak claim
A 5.2% investment return for 2018-19 helped boost assets but the lifeboat fund’s biggest claim dented its surplus
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Dutch schemes fail to improve funding ratios in June
Cuts to benefits are becoming increasingly likely to be imposed from January as conditions have not helped improve funding levels
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Chemical company scheme secures €820m insurance deal with NN Group
Chemours has transferred roughly 3,000 deferred members to insurer Nationale-Nederlanden, while active members will be moved to an APF
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Half of FTSE 100 companies could buy out DB funds in 10 years: report
Diverting an additional 6% of profits would let 70% of FTSE 100 schemes buy out within a decade, says Barnett Waddingham
