All articles by Nyree Stewart – Page 25
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News
UK: DB schemes given 3-yr auto-enrolment deferment
[17:10 CEST 24-09] UK – The government has proposed giving defined benefit (DB) pension schemes a three-year deferment period before implementing auto-enrolment, and stated employers will have to back-date contributions if they wish to switch to a defined contribution (DC) scheme.
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UK: WPP default fund charges 'should have stakeholder cap'
[17:00 CEST 24-09] UK - The default fund in workplace personal pensions (WPP) will need to carry charges below the current stakeholder pension level if they are to qualify for auto-enrolment, according to draft guidance published today by the UK government.
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Bulgaria may offer multifunds in 2010
[16:35 CEST 24-09] BULGARIA – Multi-funds, or investment portfolios with different risk profiles, could be introduced into the third pillar pensions regime next year if the government adopts a draft law by the end of 2009, the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) has revealed.
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News
LGA explores LGPS funding for schools
[16:30 CEST 24-09] UK – The executive of the Local Government Association (LGA) has authorised further investigation into the potential for establishing a collective investment fund for local authority pension schemes, so they may band together to invest in Private Finance Initiatives (PFI).
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Harrow overhauls fund manager line-up
[17:05 CEST 23-09] UK – The London Borough of Harrow has appointed four new managers to run the equity portfolio of its £300m (€333m) local government pension scheme, while its bond portfolio is being consolidated under one manager.
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Norway appoints SourceAsia for ethical screening
[17:00 CEST 23-09] NORWAY – The Norwegian government, on behalf of the Council of Ethics, has appointed SourceAsia and CSR China to carry out internet-based ethical screening of the Asian companies invested in by the Norway Government Pension Fund – Global.
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NewsBerkshire plans to hedge longevity
[17:20 CEST 22-09] UK – Berkshire Pension Fund has confirmed it is in the process of completing a deal to hedge the longevity risk for its pensioners.
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NewsBelgium may benefit from US tax on TLP profits
BELGIUM – Policy Selection Limited (PSL), the fund management group behind the Assured Fund that invests in traded life policies, is to move the administration of the fund to Belgium to limit the impact of new withholding tax rules introduced by the US.
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NewsLatvia retirement age to reach 65 by 2021
LATVIA – The retirement age in Latvia will gradually increase to 65 by 2021 at the rate of half a year annually, as part of reforms to the pension system.
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News
Havering seeks actuary as DCFS re-tenders TPS admin
[16:50 CEST 21-09] UK – The London Borough of Havering is tendering for an actuarial provider to carry out the triennial valuation of its £283.7m (€313.5m) pension fund in March 2010.
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NewsUK pensions 'quality' standard requires twice 2012 minimum
[16:25 CEST 21-09] UK – A new pensions quality mark for defined contribution (DC) schemes has been developed by the National Association of Pension Funds (NAPF) which requires a minimum contribution of 10% with at least 6% from the employer - double the statutory minimum under the 2012 reforms.
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NewsIcelandic pension funds lost 21.78% in 2008
[16:30 CEST 18-09] ICELAND – The real rate of return for Icelandic pension funds was -21.78% in 2008, while the value of net assets dropped by 6% to ISK1.6trn (€8.8bn), the Icelandic Financial Supervisory Authority (FME) has revealed.
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News
UK regulators pushes for more employer interaction
[17:10 CEST 17-09] UK – Employers are being encouraged by UK regulators to become more involved in the promotion of occupational pension schemes to employees in the run-up to auto-enrolment regulations in 2012.
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News
Premiesparfonden outperforms average PPM fund
[17:00 CEST 17-09] SWEDEN – The Swedish pension default fund Premiesparfonden, run by Sjunde AP-fonden (AP7), has outperformed the average fund in the Premium Pension System (PPM) with a return of 23.2% in the eight months of 2009.
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News
Aggregate FTSE 250 pension deficit hits £12bn
[17:00 CEST 16-09] UK – The total deficit of defined benefit (DB) pension schemes run by companies listed on the FTSE 250 index doubled to £12bn (€13.5bn) over the 12 months to the end of June, research from Pension Capital Strategies (PCS) has suggested.
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News
Pensions Ombudsman maintains legal pressure on employers
[16:40 CEST 16-09] IRELAND – The Pensions Ombudsman is continuing to place pressure on employers to co-operate with its investigations and comply with pensions obligation, after attaining the successful prosecution of another employer in the construction industry.
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News
Manager risk appetite yet to match macro optimism
[16:00 CEST 16-09] GLOBAL – Fund managers remain optimistic about the macro environment as less than a third now believe the global economy is in recession, however 72% expect to see "below trend growth and inflation" over the next 12 months, the latest monthly survey from Merrill Lynch has revealed.
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News
Unions want Norway-Global to review Nestlé
[17:15 CEST 15-09] NORWAY – Norwegian trade unions are urging the Ministry of Finance to examine whether the government pension fund's investments in Nestlé are "compatible" with the fund's ethical guidelines.
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News
Brent moves into infrastructure
[16:45 CEST 15-09] UK – The London Borough of Brent has awarded a £25m (€28.2m) infrastructure mandate to Alinda Capital Partners as part of a diversification investment strategy.
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Icelandic pensions to set up specialist fund
[16:30 CEST 15-09] ICELAND – Icelandic pension funds are in the process of finalising details of the Icelandic Investment Fund (IIF), which will invest in domestic businesses that have suffered in the economic crisis.
