All articles by Nyree Stewart – Page 18
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Irish public sector turns to career average scheme
[14:00 CET 10-12] IRELAND – A new career average pension scheme is being introduced for new entrants to the public sector workforce from next year, in an effort to cut the government pay and pensions bill.
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UK employee contributions outstrip employers
[17:05 CET 09-12] UK – Employee contributions to funded pension schemes reached £42.5bn in 2008, overtaking the rate of employer contributions for the first time in six years.
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UK gov't hints at auto-enrolment delay to pensions
[16:50 CET 09-12] UK – The UK government has revealed that the cost of private pension reform to UK businesses under the current economic climate is behind a decision to slow the implementation of future pensions auto-enrolment.
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UK roundup: Warwick University, Bangor University, Lloyds TSB
[15:45 CET 07-12] UK – Warwick University, Bangor University and Lloyds Banking Group are the latest organisations to announce changes to their final salary pension schemes, in a bid to make them more sustainable.
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First Quench heads for PPF assessment
[15:30 CET 07-12] UK – The First Quench Pension Scheme is in the process of entering the Pension Protection Fund (PPF) assessment period, following the collapse of the sponsoring employer First Quench Retailing, formerly known as Threshers.
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Irish pension reforms may wait until 2014
[16:55 CET 04-12] IRELAND – Mary Hanafin, minister of Irish social and family affairs, said the national pensions framework will be published in the next few months but admitted the implementation of Irish pension reforms could be delayed until 2014.
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Investors call for climate change clarity ahead of Copenhagen Summit
[16:30 CET 04-12] GLOBAL – Institutional investors are being encouraged to call on governments to deliver clarity on national climate change policies and transparency on market signals ahead of the COP 15 United Nations Climate Change Conference, or Copenhagen Summit, next week.
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UK roundup: Environment Agency, Logica and Vodafone
[17:10 CET 03-12] UK – The Environment Agency is seeking global bond managers for its £1.4bn (€1.5bn) active pension fund.
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SNPF appoints Aegon for fixed income
[16:55 CET 03-12] NETHERLANDS – The €1bn Stichting Notarieel Pensioenfonds (SNPF) has awarded Aegon Asset Management a mandate to run part of its fixed income allocation and provide a fixed income overlay for an existing loans portfolio.
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Tories to review means-testing with personal accounts
[16:50 CET 03-12] UK – Theresa May MP, the shadow secretary of state for work and pensions, has stated the current UK government's failure to address the impact of means-testing on the 2012 pension reforms will be one of the issues it will include in a review of the personal ...
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DB deficits at Irish firms hit €5.4bn
[13:30 CET 03-12] IRELAND – The combined defined benefit (DB) pension deficits of Irish quoted companies increased by almost 15% between January and October to €5.4bn, according to research by Attain Consulting.
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TPR targets smaller schemes with revised risk guidance
[13:30 CET 02-12] UK – The Pensions Regulator (TPR) has highlighted seven risk areas where trustees need to improve when assessing the internal risk and controls framework for the scheme.
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AP3 targets corporate credit managers
[16:50 CET 01-12] SWEDEN – Tredje AP-fonden (AP3), the third Swedish National Pension Fund is seeking a number of corporate credit bond managers for its SEK188.6bn (€18.1bn) fund.
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UK governance code to target investor communication
[16:45 CET 01-12] UK – The existing UK Combined Code on corporate governance remains "broadly fit for purpose" but additional proposals relating to the role of the chairman and non-executive directors have been suggested by the Financial Reporting Council (FRC).
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UK roundup - Torfaen, RPMI, BMI, Harrods, East Riding
[16:30 CET 30-11] UK – Torfaen Council has appointed a global equity manager, while RPMI has been awarded the administration contract for the Arup pension fund.
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Pension schemes warned to prepare inflation-proof strategies
[16:15 CET 30-11] GLOBAL/UK – Pension funds and other institutional investors, particularly those with inflation-linked liabilities, have been advised by Watson Wyatt to plan ahead for a return to high inflation, even though suitable investments could in some cases prove expensive.
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UK firm uses project assets to cut pension deficit
[16:50 CET 27-11] UK – Interserve, a UK services, maintenance and building group, has transferred its stake in a portfolio of 13 Private Finance Initiatives (PFI) to its £400m (€441m) pension scheme to help reduce its funding deficit.
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Irish schemes get breathing space on DB benefit cut rules
[16:40 CET 27-11] IRELAND – The Pensions Board has extended until June next year the deadline for schemes filing a funding proposal related to DB benefit reduction. But the Irish Business and Employers Confederation (IBEC) claimed the guidance is still too strict.
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Irish pensions framework to have lead-in time
[16:50 CET 26-11] IRELAND – Mary Hanafin, minister of social and family affairs, has admitted the National Pensions Framework being developed by the government will not be introduced immediately, in order to minimise pressure on the pension industry.
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Walker review calls for investors' stewardship code
[16:10 CET 26-11] UK – The final report of the Walker Review into corporate governance has recommended institutional investors should abide by a new Stewardship Code, developed from the principles set out by the Institutional Shareholders Committee (ISC).
