All articles by Nyree Stewart – Page 13
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Finland plans to extend solvency measures to 2012
[16:50 CET 12-02] FINLAND – The Finnish government has proposed extending emergency legislation, designed to reinforce the solvency position of pension funds, for a further two years.
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Oil volatility may speed up use of Norway Global fund
[16:45 CET 12-02] NORWAY – Wide variations in oil prices could make it difficult to complete a transfer of oil revenues from the government to the Government Pension Fund – Global, and the time for the first withdrawals from the fund “may be near”, the governor of Norges Bank has warned.
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USS highlights importance of global engagement
[17:00 CET 11-02] UK – Pension funds should not underestimate the role foreign investors play in shaping domestic markets, a trustee of the Universities Superannuation Scheme (USS) has warned.
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DC governance framework targets investment and accountability
[16:55 CET 11-02] UK – A new framework of principles, 'best practice' guidance and a table of accountabilities for UK defined contribution (DC) schemes has been proposed by the Investment Governance Group (IGG), including a focus on appropriate investment options and accountability for decisions.
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Icelandic pension funds rise 12% in 2009
[16:55 CET 11-02] ICELAND – The value of Icelandic pension funds increased by 12.6% in 2009 to a total of ISK 1.794trn (€10.2bn).
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BT could face TPR intervention over £9bn deficit
[16:00 CET 11-02] UK – The Pensions Regulator (TPR) has “substantial concerns” about a funding agreement agreed between BT and trustees of the £34bn (€38.6bn) BT Pension Scheme (BTPS), and could impose technical provisions or a recovery plan on the company if its concerns are not addressed.
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UK trustees can take 'far-sighted' approach to fiduciary duty
[16:45 CET 10-02] UK – Pension funds may increasingly be able to argue the need to apply ESG principles to all invesment management, according to pensions and legal experts, as ESG strategies could in future be related to the wealth creating capacity of economies.
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Estimated 80% of Irish DB schemes are in deficit
[16:35 CET 10-02] IRELAND – Around 80% of Irish defined benefit (DB) schemes were in deficit at the end of 2009, according to estimates from the Pensions Board. However, “very few” schemes have requested approval for extended funding periods or benefit reductions.
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Stewardship Code could trigger EU guidelines, claims ICGN
[16:30 CET 10-02] UK/EUROPE – The introduction of a UK Stewardship Code for institutional investors could lead to similar guidelines being issued by the European Commission across all member states.
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NewsMyners says trustees must meet governance 'legal duty'
[15:45 CET 09-02] UK – Paul Myners, the City Minister, has warned trustees should do more to use their shareholder positions, as part of their "legal duty" to protect the value of assets held on behalf of beneficiaries.
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NewsDC trustees want, but worry about, active investing
[15:30 CET 09-02] GLOBAL – Pension funds trustees are likely to want to opt for active management of defined contribution pension schemes in the coming years. Yet they fear applying such a strategy could be a battle, new research on the concept claims.
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NewsUK roundup: PPG Industries, Merseyside, Premier Foods
[17:00 CET 08-02] UK - The PPG Industries pension scheme is adopting a delegated consulting approach, while Merseyside has re-tendered £500m (€571m) of equity portfolios and Premier Foods is considering longevity solutions for its pension scheme.
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NewsDetails sought in UK Tory plan to end annuities at 75
[16:45 CET 08-02] UK – The Conservative Party has announced it will end compulsory annuitisation at age 75 if they are elected into power at the next General Election.
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PPF requires extra investment skills as assets grow
[16:40 CET 05-02] UK – The National Audit Office (NAO) has commended the Pension Protection Fund (PPF) for retaining a healthy balance sheet during the recession, but warned it needs to take steps to manage its increasing assets efficiently and perhaps adapt its investment processes.
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NewsPIC takes quarter of UK bulk annuity market
[16:20 CET 05-02] UK – Pension Insurance Corporation (PIC) is estimated to have increased its share in the bulk pension insurance market to over 25%, having just completed a pension buyout with property company Liberty International.
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Strong second-half raised Danica assets by 10%
[16:50 CET 04-02] DENMARK – Strong investment returns in the second half of 2009 caused Danica Pension Group’s pension savings to increase by 10% to DKK256bn (€34.4bn) last year.
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NewsUK roundup: C&W, Hertfordshire, Institute of Directors
[15:00 CET 04-02] UK – Cable & Wireless have agreed a pension settlement with the trustees of its UK defined benefit scheme, which is to be split as part of its demerger, while Hertfordshire County Council is seeking a pensions administrator and the Institute of Directors is calling for the ...
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NewsTPR cracks down on poor pension admin
[17:10 CET 03-02] UK – The Pension Regulator (TPR) has warned trustees it is strengthening its approach to regulating record keeping and administration, as only 19% of schemes have checked they hold all the fundamental common data required about members.
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Irish managed funds fell 1% in January
[17:05 CET 03-02] IRELAND – Irish managed pension funds posted a -1.1.% return in January, research from consultancy firms has shown - the first negative return since October last year.
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ATP warns of market fragility despite positive returns
[17:00 CET 03-02] DENMARK – ATP Group has reported its investment portfolio returned 8.5% for 2009 to more than recover losses in 2008. However, officials have warned they are unsure whether investor will see gains at the end of this year as markets still look uncertain.
