All articles by Nyree Stewart – Page 12

  • News

    PwC claims retiring at 70 would save UK £9bn a year

    2010-02-25T15:40:00Z

    [16:40 CET 25-02] UK – The government is being urged by consultants to increase the level of the state pension age (SPA) “faster and further” than currently planned to the age of 70 by 2046, to help pay for a higher state pension and reduce public debt.

  • News

    UK pensions reduced by £165bn in 2008

    2010-02-23T15:30:00Z

    [16:30 CET 23-02] UK – Total assets in pension schemes administered by trustees or investment managers fell £165bn (€187.4bn) in 2008 to £928bn, according to the Office of National Statistics (ONS).

  • News

    UK roundup: BAA, Aegon Trustee Solutions, PADA, Westminster, Cornwall

    2010-02-23T15:20:00Z

    [16:20 CET 23-02] UK – BAA made a £218m (€248.5m) one-off deficit payment into its defined benefit (DB) scheme in 2009, following an increase in the actuarial deficit.

  • News

    AP2 appoints new CIO

    2010-02-23T11:30:00Z

    [12:30 CET 23-02] SWEDEN – Andra AP-fonden (AP2), the second Swedish national pension fund, has appointed Hans Fahlin as its chief investment officer (CIO) to replace Johan Held who announced his resignation last year.

  • News

    BMW UK pension completes £3bn longevity deal

    2010-02-22T16:00:00Z

    [17:00 CET 22-02] UK – The largest longevity insurance deal seen yet by a pension fund has been completed by BMW's UK pension fund with Abbey Life and Paternoster.

  • News

    TPR pursues Nortel in Canada for £2.1bn pension fund bill

    2010-02-22T15:45:00Z

    [16:45 CET 22-02] UK/CANADA – The UK Pensions Regulator (TPR) has issued a warning notice setting out the case for a Financial Support Direction (FSD) against Nortel Networks and its group of companies that could require it to contribute up to £2.1bn to the UK pension plan. However Nortel is arguing the action is in breach of an order issued by the Canadian courts.

  • News

    Irish roundup: Bank of Ireland, AIB

    2010-02-22T14:00:00Z

    [15:00 CET 22-02] IRELAND – The Irish Bank Officials Association (IBOA) has highlighted important safeguards for members of the Bank of Ireland Staff Pension scheme, after a review of the trust deed and rules revealed the scheme cannot be discontinued without the consent of at least 75% of the membership.

  • News

    AP3 alters strategy after improved returns

    2010-02-19T15:40:00Z

    SWEDEN – The first four AP-funds in the Swedish pension system between them produced an average return of 19.4% in 2009, equivalent to a net profit of SEK 133.8bn (€13.6bn), to bring the total vlaue of assets to SEK 808.8bn.

  • News

    UK roundup: Shetland, Strathclyde, TPR, Thomson Reuters, Amey

    2010-02-18T16:00:00Z

    [17:00 CET 18-02] UK – Two Scottish local authorities have appointed Hymans Robertson as investment consultants, while pension advisers and investment consultants have also been chosen by Amey and Thomson Reuters.

  • News

    Equity allocation drives 11% return for Sweden's AI Pension

    2010-02-18T15:55:00Z

    [16:55 CET 18-02] SWEDEN – A decision to increase the equity allocation in the investment portfolio by 14 percentage points in 2009 helped the AI Pension, Architects and Engineers achieve an 11.1% return.

  • News

    Hungary needs to enhance second pillar pensions - OECD

    2010-02-18T15:25:00Z

    [16:25 CET 18-02] HUNGARY – More attention should be directed at enhancing the mandatory second pillar pension provision in Hungary, as existing contributions to these pensions are barely adequate to cover defined contribution (DC) costs, the OECD has warned.

  • News

    TPR urged to explain rejection of Reader's Digest deal

    2010-02-18T15:20:00Z

    [16:20 CET 18-02] UK – The National Association of Pension Funds (NAPF) has called on the Pensions Regulator to clarify its reasons for not approving the Readers Digest UK pension deal to help improve the understanding of employers of other defined benefit (DB) schemes.

  • News

    Updated GIPS targets risk and compliance

    2010-02-18T15:10:00Z

    [16:10 CET 18-02] GLOBAL – Revisions to the Global Investment Performance Standards (GIPS) will come into force in January 2011 requiring fund managers to publish a compliance statement on how they have met the GIPS standards and whether they have been verified.

  • News

    UK roundup: North Yorks, PPF, PADA

    2010-02-17T16:10:00Z

    [17:10 CET 17-02] UK – North Yorkshire Pension Fund is planning to tender a "plain vanilla" corporate bond portfolio as it seeks the best way to deploy assets currently invested with European Capital Management (ECM).

  • News

    Longevity swap market to hit £10bn in 2010

    2010-02-17T16:00:00Z

    [17:00 CET 17-02] UK – The value of longevity swap deals covering UK pensioner liabilities outstripped the combined value of buyout and buy-in transactions in 2009, despite the market only taking off in the third quarter of the year.

  • News

    Pension deficit forces Reader's Digest UK into administration

    2010-02-17T14:30:00Z

    [15:30 CET 17-02] UK – The UK arm of the Readers Digest Association (RDA UK) has filed for insolvency after a pension deal agreed by the company, the trustees and the PPF to address a £125m (€144m) deficit failed to meet the approval of the Pensions Regulator (TPR).

  • News

    UK roundup: New lobby calls for DC reform, Church of England

    2010-02-15T16:00:00Z

    [17:00 CET 15-02] UK – A new think tank, the Centre for Retirement Reform has been established to help develop a long-term savings product structure to replace the private pension model that is “no longer fit for purpose”.

  • News

    MEP brands changes to EU pension scheme 'unacceptable'

    2010-02-15T15:30:00Z

    [16:35 CET 15-02] EUROPE – One of the UK MEPs involved in legal action against the European Parliament’s decision to alter the terms of its ABSL voluntary pension scheme for MEPs has claimed the reforms are “unacceptable” since they alter existing benefit terms.

  • News

    UN fund returns 20.3% in 2009

    2010-02-15T15:30:00Z

    [16:30 CET 15-02] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) increased the value of its assets by almost $1bn to $37.5bn (€27.6bn) in the final quarter of 2009.

  • News

    UK roundup: CofE, Rolls Royce, Lothian, Clwyd

    2010-02-12T15:55:00Z

    [16:55 CET 12-02] UK – The Church of England (CofE) has passed a motion to extend the backdating of pension benefits to surviving civil partners of clergy scheme members, despite already holding a £352m (€405m) deficit.