All articles by Nyree Stewart – Page 36
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News
Oxfordshire seeks actuarial services
[16:35 CEST 10-06] UK – Oxfordshire County Council is seeking an actuary for its £796m (€925m) local government pension scheme.
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Tories propose to abolish compulsory annuities
[16:30 CEST 10-06] UK – The Conservative Party has claimed it will abolish compulsory annuitisation at age 75 if they win the next general election, as part of an effort to "rebuild our savings culture".
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SSRB consults on future of MP pensions
[16:10 CEST 10-06] UK – The Senior Salaries Review Board (SSRB) has issued a consultation to gather feedback on the future of the Parliamentary Contributory Pension Fund (PCPF), which includes proposals for reducing costs and the possibility of switching to a different pension arrangement.
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Rio Tinto awards State Street custody mandate
[17:20 CEST 09-06] UK/US – Mining company Rio Tinto has appointed State Street to provide global custodian services for its pension funds in the UK, US and Canada.
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Average Danish retirement age drops to 63
[17:15 CEST 09-06] DENMARK – The average retirement age in Denmark fell by almost two years between 1992 and 2008, according to a new study by Forsikring & Pension, the Danish Insurance Association (DIA).
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BIS rejects 'Royal Mail sale is dead' claim
[17:10 CEST 09-06] UK – The Department for Business, Innovation and Skills (BIS) has rejected reports suggesting the part-privatisation section of the Postal Services Bill has been scrapped, claiming all three parts of the Bill will go ahead as a "package", albeit with a potential delay.
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DB deficit sees £9bn improvement in May
[17:10 CEST 09-06] UK – The aggregate funding position of around 7,400 defined benefit (DB) schemes has improved by just over £9bn to a deficit of £179.3bn, according to the Pension Protection Fund (PPF).
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Workplace healthcare 'key' to delaying retirement
[17:15 CEST 08-06] FINLAND – The average retirement age for employees would increase by a year if “effective occupational health care schemes” are provided at all workplaces, the Central Organisation of Finnish Trade Unions (SAK) has claimed.
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Royal Mail may shut scheme if gov't Bill fails
[17:20 CEST 08-06] UK – Royal Mail has warned it may be forced to close its £20bn (€22.98bn) defined benefit (DB) scheme if the government's plans for a part-privatisation of the company fail.
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Eagle lands in pensions hot seat
[17:05 CEST 08-06] UK – Angela Eagle MP has become the 11th minister in charge of UK pensions, following a reshuffle of junior ministers performed in the wake of last week's cabinet reshuffle.
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Eq Life judicial review passes to next stage
[15:30 CEST 28-05] UK – Equitable Life policyholders have been given permission to proceed with a full judicial review hearing, over the government's failure to implement the Parliamentary Ombudsman's recommendations on compensation.
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Somerset fund drops to £765m
[17:10 CEST 27-05] UK – Provisional figures suggest the Somerset County Council pension fund made a loss of 28% in the 2008-09 financial year, as the value of the fund dropped to a low of £765m (€878.6m) by the end of March.
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PensionDanmark returns 0.2% in Q1
[17:05 CEST 27-05] DENMARK – PensionDanmark has reported a positive net return of 0.2% in the first quarter of 2009, as the value of its premiums increased to DKK2.6bn (€349.3m).
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FRR seeks real estate and transition managers
[17:00 CEST 27-05] FRANCE – The Fonds de Réserve pour les Retraites (FRR), the French pension reserve fund, has launched a search for four investment managers to run transition and real estate portfolios for the €26bn fund.
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CBI calls for 'smoothing' in pension valuations
[16:50 CEST 26-05] UK – The Confederation of British Industry (CBI) has claimed pure marked-to-market valuations "doesn't work for pensions schemes" and an "element of smoothing" should be introduced to protect balance sheets from extreme volatility.
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ECB staff to strike over pensions
[16:15 CEST 26-05] EUROPE – Staff at the European Central bank (ECB) are planning to hold an initial 90-minute strike next month, in protest against the bank's "unilateral decision-making" concerning changes to its defined benefit (DB) pension fund.
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DC assets see second month of growth
[14:45 CEST 26-05] UK – Defined contribution (DC) pension assets have grown for the second consecutive month to reach a combined total of £418m (€477bn), according to Aon Consulting,
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Ageing impact requires further fiscal 'squeeze'
[17:15 CEST 22-05] UK – Existing plans by the government for fiscal tightening of 6.3% of GDP, or £90bn, over the next few years, to return the current budget to balance by 2017/18, is not sufficient to counter the costs of an ageing population, PricewaterhouseCooper (PwC) has warned.
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BA's pension deficits hits £1.46bn
[17:15 CEST 22-05] UK – The aggregate accounting position of British Airways' (BA) two UK defined benefit (DB) schemes worsened by almost £1.2bn (€1.37bn) in the last financial year, to approximately £1.46bn.
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IIGCC calls for more 'effective' carbon markets
[17:10 CEST 22-05] EUROPE – The Institutional Investors Group on Climate Change (IIGCC) has proposed a number of measures to boost the effectiveness of carbon markets and raise money from the private sector to fund climate change mitigation.