All articles by IPE staff – Page 50
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Features
Modernising law on the way
The Dutch pension system is based on a three pillar system. The first pillar consists of a pay-as-you-go state pension (AOW) providing a flat rate benefit for all residents. The amount for a couple is 100% of the legal minimum wage (singles: 70%). Most workers are also entitled to a ...
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Features
Pensionsfonds - a new way of financing
Due to the deteriorating demographic situation and the high unemployment rate, the recent pension reform tries to ensure stability of medium- and long-term-costs by cutbacks in social security benefits. The net replacement ratio, which is net state pension to net active earnings prior to retirement, will be reduced from the ...
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Features
Ground set for development of schemes
Some rather radical changes have taken place lately within the pension legislation in the private sector. A completely new act on occupational pension schemes – Act of Defined Benefit Schemes – allowing deductible contributions has been passed. This act replaces earlier regulations of defined benefit schemes pursuant to the Taxation ...
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Features
Ironing out the creases
Austria’s pensions and asset management industry remains relatively undeveloped but changes are afoot that will change the landscape for good. As more companies are coaxed by the government and more appreciate the predicament of their employees, so the number of multi-employer funds and corporate schemes increases. Billions of euros stored ...
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Features
Growth continues unabated
Developments in the past year were very encouraging. The data for the year 2000 gives the following picture of the Pensionskassen market in Austria: q assets administered by Pensionskassen in Austria in 2000 were ATS110bn (e8bn), an increase of 9% compared to the year 1999; q some 284,000 beneficiaries are ...
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Features
Committed to improving second pillar plans
Article 41 of the Spanish constitution makes a public system of social security obligatory and also allows a free supplementary pension system schemes. In April 2001, the Spanish government reached an agreement with one of the main trade unions and the employers’ organisations containing specific rules for the development of ...
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Features
Changing the face of retirement provision
The pension environment in Ireland is in a period of radical change. This era of evolution began with the launch of the National Pensions Policy Initiative (NPPI), by the Pensions Board (Irish national occupational pensions regulator), in 1996. Since then, we have had a series of developments that collectively will ...
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Features
What to do when the world changes
As part of our coverage of the aftermath of the tragedy in the US on September 11, we invited pension funds to air their feelings and views in a special Off the Record considering the impact of the terrible events on our industry going forward. Your responses were both pertinent ...
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Features
Private equity awards
The £5bn (E8.1bn) Bradford-based West Yorkshire Pension Fund, the scheme for local government workers in the region, has appointed a raft of private equity managers as part of a move to increase venture assets to around four per cent of the fund’s portfolio in the next few years. The briefs, ...
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Features
Island's simple and effective approach
Guernsey’s first pillar pensions system is simple but effective. The old age pension is payable from age 65 for men and women, at a uniform rate of £107.25 (e175) a week for a single person and £172.75 for a married couple. Benefits at the full rate are payable to all ...
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Features
Increasing role for funded approach
The expansion of private pension funds looks set to continue as reforms are implemented. Portugal’s pay-as-you-go system evolved in stages and a variety of limited regimes have been introduced since the beginning of the century. The social security system comprises two main regimes: the general system, covering private-sector workers, and ...
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Features
Worries about pension guarantees
Pension guarantees have been the hottest topic in the Danish pension debate in recent years. Another issue high on the agenda is the planned transition from book value to fair value in the accounts. The Danish pension system first pillar The ‘Folkepension’ is administered by the state and is ...
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News
Rodamco takes ABP to court over Westfield sale
NETHERLANDS – Rotterdam based Rodamco North America (RNA) is taking legal action against giant Dutch pension fund, ABP, following the sale of ABP’s 23.9% shareholding in RNA to Westfield Holdings, the large Sydney based international shopping centre development company.....
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News
Swiss banks launch 'transparent' hedge product
SWITZERLAND - Bank Hofmann and saisGroup of Zug are targeting a rising demand for alternative investments with the launching of a fully transparent hedge product with daily valuation and trading at Net Asset Value (NAV)....
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News
Europe's exchanges: three-minute halt at 12pm CET
US SPECIAL/EUROPE – Europe’s stock exchanges observed a three minute silence and simultaneous cessation of trading at 12pm CET today, in line with the decision by the European Union to hold a day of mourning today, following Tuesday’s terrorist attacks in the US....
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News
Emergency list of industry client contacts
As part of our endeavour at IPE Magazine and IPE-Newsline to assist any company within our community affected by events in the US, below is a list of client contact details provided by asset management companies that had offices or staff in the World Trade Centre complex in New York, ...
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Features
Nestlé picks Northern Trust
Northern Trust has won the custody mandate for Nestlé Switzerland’s Sfr7bn (€4.6bn) pension fund. The fund, based in Vevey, will receive domestic and global custody and related services, including risk performance, performance measurement, online services, Swiss stamp tax processing and reporting. Says Lucille Knapp of Northern Trust: “Major reasons given ...
