All articles by IPE staff – Page 34
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Features
Feeling the squeeze
This relatively comfortable world of Swiss pensions with its world renowned three pillar system has been put under the microscope in the last year with Swiss pension scheme funding levels hit dramatically by the continued fall of stock markets. A report in June this year by ASIP, the Association of ...
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Features
Holds no fears
Like their UK and Dutch counterparts, Irish pension funds worried about the potential of a proscriptive pan-European Pensions Directive laying down rules where previously the prudent person pension fund management principle had worked well for decades. However, in a speech concerning the practical implications of the directive for Ireland, Anne ...
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Features
Facing realities
One of the most significant changes to have occurred in the last year in Germany was the proposed cut of the interest guarantee offered by some Pensionskassen from 3.25% to 2.75% at the beginning of next year. Many Pensionskassen have struggled to come anywhere close to their interest guarantees and ...
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Features
Great expectations
Iceland’s unique geographical position in Europe mirrors its somewhat idiosyncratic approach to pension provision. The country has privatised its pension system more comprehensively than any other Nordic state, with a fully funded second pillar of private and public occupational pension schemes. The country currently spends only 2% of GDP on ...
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Features
A difficult year
For those following the developments in the pensions market in France, 2003 is proving a very difficult year. After months of strikes against the government’s plans to reform the retirement system, the new pensions bill was officially adopted by the French Parliament last month. The most controversial proposal included in ...
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Features
Reforms provoke heated debate
Pensions have been a hot topic in Austria during the past few months. Both the public and private pensions sectors have undergone more or less unwelcome reforms and it seems the months to come will continue to add more ingredients to the pensions debate. In May, thousands of Austrians took ...
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Features
On the edge of the debate
The discussions regarding the introduction of the European Pensions Directive have passed almost unnoticed by Portuguese fund managers. Like those in Spain, large Portuguese corporations do not possess many subsidiaries across Europe and, in any case, the market for occupational pension funds is still very limited. The very young pension ...
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Features
Taking more control
2002 was the year asset liability management became the hot topic in Finland in the light of difficult markets and the need to meet tight solvency regulations. While the investment trends that became apparent at the time of the euro introduction – the shift to equities and increased foreign exposure ...
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Features
Domestic concerns predominate
Spain is one of the countries within the European Union that experts believe will be less affected by the introduction of the EU Pensions Directive. Spanish pension fund managers are more worried about the changes that their domestic market is undergoing than the new legal framework for pensions at a ...
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Features
In the same boat
The stable world of Norwegian pensions is at something of a crossroads. Spurred on in part by comments from the likes of the International Monetary Fund, which said earlier this year that Norway’s current public pension system is “not financially viable”, the country awaits the final presentation – expected in ...
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Features
Slow progress awaits reforms
Since the law regarding the creation of new pension funds in Italy came into force in 1993 the market has been developing slowly. A significant number of new pension funds are now fully operational but assets and subscribers are still low. However, 2002 was a good year for the consolidation ...
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Features
Higher on agenda
It’s been a difficult year for the UK pensions industry. Continued adverse market conditions, a flurry of new government legislation, increasing scheme maturity and pension fund deficit stories hitting the front pages of the national press have left the UK to think long and hard about how it should be ...
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Features
DJ microsectors
Dow Jones Indexes started calculating 15 MicroSector Indexes in June. These are narrow-based equity indices that include five of the largest and most actively traded stocks in each sector. They are derived from industry groups and subgroups of the group’s global classification standard comprising the Dow Jones global indexes. A ...
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News
Consultant launches FRS17 liabilities database
UK – Consulting actuaries Punter Southall & Co. have launched a web-based database which will allow financial advisors and investment analysts to compare and contrast the pensions liabilities of the UK’s leading companies under FRS 17 accounting rules.
