All articles by Nyree Stewart – Page 29
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NewsBalsfjord joins Norwegian pension tenders
[13:30 CEST 05-08] NORWAY – Balsfjord kommune, in the north of Norway, is the latest municipality to re-tender its public occupational pension provision.
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UNJSPF to monitor potential long-term risks
[16:40 CEST 04-08] GLOBAL – The UN Joint Staff Pension Fund confirmed it is closely monitoring market conditions “in the upcoming months” to identify and address potential long-term risks that could negatively impact the fund.
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EU committee seeks expert panel on finance
[16:20 CEST 04-08] EUROPE – The European Parliament's Economic and Monetary Affairs Committee is tendering for providers to join a "panel of experts" to provide advice on financial services issues.
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ACA calls for interim changes to PCPF
[16:10 CEST 04-08] UK – The Association of Consulting Actuaries (ACA) has warned against any "significant revisions" to the Parliamentary Contributory Pension Fund (PCPF) until there is a wider review of UK public sector pensions.
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ITV consults on DB changes as deficit predicted to worsen
[16:00 CEST 04-08] UK – ITV has initiated a consultation with staff members over proposals to cap pensionable salary increases at 1% from January 2010, and is also offering pensioners the option of giving up pension increases on part of their pension in return for a "one-off uplift".
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Equity gains not enough to offset bond yield changes
[16:30 CEST 03-08] UK – Equity gains in the recent stock market rallies have not been “substantial” enough to offset falls in corporate bond yields, Aon Consulting has warned, and the result for the 200-largest defined benefit (DB) schemes was an aggregated deficit of £72.8bn (€85.7bn) by the end of July.
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NewsPPF valuation changes may reduce costs by up to 10%
[15:45 CEST 03-08] UK – Planned changes by the Pension Protection Fund (PPF) to the assumptions used in section 143 and 179 valuations could reduce these liabilities by around 8% for pensioners and 10% for deferred pensioners.
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NewsBGI performance adds to Barclays profit
[15:30 CEST 03-08] UK – A "resilient performance" by Barclays Global Investors in the first half of 2009 deliverd a 4% increase to its gross profit to £276m (€324.8m) and helped Barclays to report a profit before tax of around £3bn.
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NewsPPF to set up steering group for revising levy plans
[16:35 CEST 31-07] UK – The Pension Protection Fund (PPF) is to establish a steering group to aid in the "refinement" of proposals for the development of the risk-based levy, following concerns over key areas such as long-term insolvency probabilities and the treatment of sophisticated investment strategies.
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Devon outsources assets to four new managers
[16:30 CEST 31-07] UK – Devon County Council has appointed four new investment managers to its £1.87bn (€2.19bn) pension fund following a decision last year to outsource a large proportion of its in-house managed assets.
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NewsPressure grows for abolition of default retirement age
[16:15 CEST 31-07] UK – A cross-party group of MPs has reiterated its call for the default retirement age of 65 to be abolished, as it believes the practice is "discriminative and unnecessary".
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NewsKeva to set up transition manager panel
[16:50 CEST 30-07] FINLAND - Kuntien eläkevakuutus (Keva), the Finnish Local Government Pensions Institution, is looking to establish a transition manager panel for its €20bn scheme.
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NDA awards Deloitte actuarial contract
[16:50 CEST 30-07] UK – The Nuclear Decommissioning Authority has appointed Deloitte Total Rewards and Benefits to provide actuarial advice on the pension arrangements that fall within the organisation’s remit.
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NewsTrinity deficit rises €80m as bond yields hit home
[16:30 CEST 30-07] UK – Falling corporate bond rates and rising inflation caused the pension deficit of Trinity Mirror's 10 defined benefit (DB) pension schemes to increase by £68.3m (€80m) in the first half of this year.
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NewsNorthumberland appoints investment adviser
[17:10 CEST 29-07] UK – Northumberland County Council has appointed Mercer as its investment adviser, replacing Watson Wyatt who had held the contract for almost two decades.
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Highland schemes seeks advice for tax recovery
[17:10 CEST 29-07] UK - The Highland Council is seeking a provider of tax advisory service to help its £627.8m (€730.9m) local government pension scheme (LGPS) claim back withholding taxes on dividends from EU and EEA sources.
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NewsAkzoNobel pension deficits hit €1.5bn
[17:05 CEST 29-07] UK/NETHERLANDS – Quarterly figures from Dutch paint and coatings firm AkzoNobel has revealed almost £20m (€23.3m) extra had to be pumped into the ICI UK defined benefit (DB) pension fund in the second quarter following its latest funding valuation.
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Benefits of default retirement age are 'exaggerated'
[17:00 CEST 29-07] UK – The advantages of a mandatory retirement age of 65, implemented under employment equality regulations in 2006, "have been exaggerated", claims research conducted for the Employers Forum on Age (EFA) and The Age and Employment Network (TAEN).
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East Sussex tenders for three managers
[16:55 CEST 28-07] UK – East Sussex Council is tendering three investment manager mandates for its £1.39bn (€1.6bn) pension fund.
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PPF to set up investment advice panel
[16:50 CEST 28-07] UK – The Pension Protection Fund (PPF) is seeking to establish a panel of investment advisers to call on, for advice concerning investment in both new and existing asset classes.
